General Motors (NYSE:GM) and Michelin (OTCMKTS:MGDDY) have announced plans to release airless tires in the future.
The new airless tires that the two companies are working on are called the “MICHELIN Uptis Prototype. They can also be called the “Unique Puncture-proof Tire System.” The two companies are planning to have these tires ready for passenger vehicles by 2024.
According to GM, it is planning to start out real-world testing of these new airless tires later this year. This will have the company using them on a fleet of Chevrolet Bolt EVs. The company notes that the advantages of these tires include no more flats or blowouts. There’s also less raw material needed to make the tires, which can reduce waste.
Steve Kiefer, Senior Vice President of Global Purchasing and Supply Chain at GM, has this to say about the airless tires.
“General Motors is excited about the possibilities that Uptis presents, and we are thrilled to collaborate with Michelin on this breakthrough technology. Uptis is an ideal fit for propelling the automotive industry into the future and a great example of how our customers benefit when we collaborate and innovate with our supplier partners.”
Michelin is also showing off the tires in action via YouTube video on its official channel. You can check it out for yourself below!
GM stock and MGDDY stock were both up slightly as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
