What is the scope and purpose of Pirelli's U.S. investment plan announced on Tuesday?

Pirelli announced a multi-year investment plan for the United States worth $1 billion to $1.2 billion, aimed at increasing its production capacity in the country, including for its Cyber Tyres — tyres equipped with embedded sensors and software that transmit real-time data to vehicles.

How did the Italian government's intervention affect Pirelli's board composition and leadership structure?

Following Italian government intervention to curb the influence of Chinese investor Sinochem due to risks to Pirelli's U.S. business ambitions, shareholders appointed a new board dominated by Italian investor Camfin; Camfin, controlled by Marco Tronchetti Provera (who has led Pirelli since 1992), holds a 26.2% stake, while Sinochem — holding 34.1% — secured only three seats on the 15-member board; the new board confirmed Andrea Casaluci as CEO and appointed Tronchetti Provera as executive chairman after three years as executive vice chairman.

Pirelli plans investments worth up to $1.2 billion to expand US capacity

Jun 30, 2026

Pirelli unveiled a $1.2 billion U.S. expansion plan for tire production, including Cyber Tyres, following Italian government intervention to curb Chinese investor Sinochem's influence.

reuters

2026-04-13

Sinochem May Appeal Court Over Italy's Curbs on Pirelli Stake

2026-04-16

Pirelli raises prices as part of Middle East crisis mitigation plan

2026-06-25

Pirelli Appoints New Board Dominated by Company Veteran Tronchetti Provera

2026-06-30

Pirelli plans investments worth up to $1.2 billion to expand US capacity

Pirelli plans investments worth up to $1.2 billion to expand US capacity

FAQ