ABB Group, the Swiss power and automation company, will optimize its resources to support China's industrial upgrading and take new opportunities from the digital sector in the long term, said its top executive.
ABB announced earlier this month that it will shape the company's divisions into four units－electrification products, robotics and motion, industrial automation and power grids－to enhance its earning ability, as well as realizing its full potential in digital technologies.
These divisions will start operating as entrepreneurial units within ABB on Jan 1, 2017, reflected in an enhancement of its performance and compensation model focusing on individual accountability and responsibility.
Ulrich Spiesshofer, ABB's chief executive officer, said China has always been a strong and important market for ABB. The company will continue to invest in China, especially in digitalization, automation and power supply sectors.
"If you look at the opportunities in our four divisions, they are very significant. On the electrification side, electric vehicles are coming up at high speed," said Spiesshofer.
"China today is the largest robotics market in the world. And we can truly make a difference there with our strong foothold."
China has been implementing a plan titled "Made in China 2025", aiming to strengthen the country's manufacturing capacity under the guidance of technological progress, knowledge-based transformation and green development. This will help the Chinese economy grow at a faster speed.
ABB opened new service stations in China this year, as well as new research and development activities in the second half of this year. It also plans to expand its advanced robotic technology capability in the service industry.
The Swiss firm employs more than 18,000 in China and operates 40 local firms across a sales and service network in 147 cities.
ABB gained orders of over $300 million for world's first 1,100 ultra-high-voltage direct current transmission link in China in July.
Eager to enhance its earning ability, ABB appointed a chief digital officer in September, who will lead the next level of development and deployment of ABB's digital solutions for customers globally and across all businesses.
