CLERMONT-FERRAND, France—Michelin is more than tires.
It's a refrain you'll hear over and over again as the world's largest tire maker emphasizes its place as a mobility company.
Yes, tires are at the core of what Michelin does, and that isn't going to change. But the company is committed to so much more—diversifying and strengthening its position across the globe by investing in and developing technologies and products in spaces around and beyond tires.
The first half of 2023 was a reminder of just how seriously Michelin takes its around and beyond tire businesses. Within a span of about eight months or so, Michelin made some key portfolio moves that will position it for further growth.
"Within our Michelin in Motion 2030 strategy, we are more and more actively managing our business portfolio, which is also a way to show and to demonstrate the group ability to create value around and beyond tires," Yves Chapot, general manager and chief financial officer, said during an investors call July 26.
Here's a look at 6 key investments, mergers, acquisitions and divestments that helped to define the first half of 2023—moves that Michelin says will set it up for growth in the months and years to come.