ABB Group CEO Morten Wierod said China remains one of the Swiss-Swedish engineering giant's most strategic markets, with more than one billion U.S. dollars invested in the country over the last ten years and further investment planned over the next five.
"We always see China as a good market. For ABB, it's our second largest market. It stands for about 11 percent of the revenue of the company. So it's a very important market, but we also see access to talent. We have more than 13,000 people of our team here, more than 2,000 of those into technology, into research and development, making the new solutions for customers," he said at a recent interview with the China Global Television Network.
The CEO pointed to a combination of market scale, local engineering strength and deepening industrial demand as the reason for ABB's long-term commitment.
"So we see good opportunities in the market. We have a very strong local team. That combination made a lot of confidence, so we invested more than one billion U.S. dollars over the last 10 years. When we look into the next five years, we also see a similar development and continued strong, continued investment in the market," he said.
ABB Group CEO on investment in China
