Why Tire Giant Pirelli is Making a Big Bet on U.S. Manufacturing

Pirelli is investing $1.2 billion to expand its tire production in the United States, targeting the manufacture of six million high-tech tires each year. The U.S. represents 20% of Pirelli’s turnover and accounts for 40% of the global market for high-tech tire products, making it a strategic location for this expansion.

The investment is also driven by the need to produce advanced ‘cyber tires’ that provide real-time data to vehicles, as well as the growing popularity of Formula One in the U.S. Despite challenges such as rising energy costs and inflation affecting consumer demand, Pirelli continues to focus on technological innovation and the premium tire segment, leveraging its experience as the exclusive Formula One tire supplier.

Source: CNBC