Michelin Sells Russian Assets to Power Intl. Tires LLC

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Michelin Sells Russian Assets to Power Intl. Tires LLC

The tire distributor will purchase Michelin Russia Tyre Manufacturing Company LLC and Camso CIS LLC.

aftermarketNews Staff
By aftermarketNews Staff
Published:

Michelin announced the signing of an agreement with Russian tire distributor Power International Tires LLC for the purchase of its two local companies, Michelin Russia Tyre Manufacturing Company (MRTMC) LLC and Camso CIS LLC.

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The sale marks a major step in the Michelin’s history, with the Group having a presence in the country since 1997. Prior to this move, the tiremaker suspended its industrial activities in Russia on March 15, 2022, following the start of the conflict in the Ukraine.

This agreement will allow for saving 250 jobs, mainly based in Davydovo, according to Michelin.

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XPeng Announces Vehicle Delivery Results for April

With cumulative deliveries nearing 10,000 units since its launch, XPeng remains the top-selling all-electric MPV in China, the company said.

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Guangzhou, China-based smart electric vehicle provider XPeng Inc. announced its vehicle delivery results for April 2024.

XPENG said it delivered 9,393 Smart EVs, representing a 33% increase year-on-year, up 4% over the prior month. The XPENG X9 achieved monthly deliveries of 1,959 units in April, with cumulative deliveries nearing 10,000 units since its launch, maintaining its position as the top-selling all-electric MPV in China, the company said. Year-to-date, XPENG has delivered 31,214 Smart EVs, a 23% increase year-on-year.

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