Plastic Omnium Makes US Push, Changes Name as Part of Overhaul
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French car-parts maker Cie Plastic Omnium SA is changing its name and planning more US investments as part of an overhaul to offer new electric vehicle and hydrogen technology to a wider range of clients, including Tesla Inc., China’s BYD Co. and France’s Alstom SA.
The company will next month inaugurate a new plant in Austin, Texas, and plans to invest in a manufacturing site in Michigan after winning a US hydrogen order, Chief Executive Officer Laurent Favre said in interview at the company’s headquarters this week. He expects US revenue, which reached €1.6 billion in 2023, or 14% of total group sales, to double by 2028.