Michelin looks to hydrogen future to diversify business

French tyre giant Michelin is looking to diversify its business pursuits, announcing plans to expand into hydrogen. Michelin says it wants to increase its revenue by around 65 per cent by 2030, equating to around €14 billion (AU$22B) annually – and will do so by moving outside of its traditional tyre manufacturing operations. The company has set up a joint venture with French auto parts maker Faurecia, known as Symbio, to specialise in hydrogen technology.