The French MICHELIN is to set up a joint venture with India's biggest producer of tyres for lorries, APOLLO TYRES, in an operation representing a total investment of 70 million over four years. The new company will be called MICHELIN APOLLO TYRES and will be 51% owned by MICHELIN. It will specialise in the manufacture and sales of tyres for lorries and buses, and will also sell other types of tyre.