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The Agreement Between Pirelli and Sinochem Has Come to an End
The latest news in the tire industry concerns the end of the agreement between Pirelli and Sinochem.
...
The Agreement Between Pirelli and Sinochem Has Come to an End
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Éric Descarries
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The Agreement Between Pirelli and Sinochem Has Come to an End
Éric Descarries
Hits: 17
The latest news in the tire industry concerns the end of the agreement between Pirelli and Sinochem. The reason? It appears that Camfin, the second-largest investor in Italian tire manufacturer Pirelli, has concluded that it’s impossible to reach common ground with Sinochem in order to adapt Pirelli’s governance structure to U.S. regulatory requirements, especially given that the timeframe would be too short to achieve a satisfactory agreement.
According to several reports, the issue reportedly involves the Cyber Tire, a type of smart tire equipped with sensors capable of collecting data and communicating with connected vehicles.
This type of tire is currently under review by the U.S. Department of Commerce, which has banned software and hardware from manufacturers linked to China in an effort to protect — reportedly — sensitive data and privacy. Pirelli would therefore need to demonstrate that its products aren’t “contaminated” by Chinese governance.
(Photo Pirelli)
Éric Descarries
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