ABB CEO Ulrich Spiesshofer met India's Prime Minister, Narendra Modi, in New Delhi during the MOVE Summit on 7th September.
Spiesshofer's talks with the Prime Minister focused on how ABB can support the government's renewable energy targets, and accelerate public transportation's transition to electric power.
"By embracing e-mobility now, India can leapfrog other nations and become a world leader in e-mobility, while at the same time reducing emissions and dependence on fossil fuels. ABB is a technology leader for electric mobility and we are well positioned to partner India's electric mobility mission 2030," said Spiesshofer.
Spiesshofer's meeting with the Prime Minister comes at a time when India has set an ambitious target of producing 227 GW of renewable energy by 2022, and has launched an initiative to electrically power majority of its public transport vehicles. India is also investing to make its power grid more resilient in the face of growing demand.
"This is not just limited to EV charging infrastructure, but also includes the entire electricity value chain. We very much look forward to continuing sharing of ideas on driving forward India's e-mobility revolution," he added.
In India, ABB is the only company with capabilities spanning the entire electricity value chain, from grid infrastructure, to automation and power management, to electrification, including electric vehicle charging. ABB is a digital leader at the forefront of the Energy and Fourth Industrial Revolutions and has been a leader in electrification and e-mobility for well over a century.
Shares of ABB India Limited was last trading in BSE at Rs.1345.25 as compared to the previous close of Rs. 1291.1. The total number of shares traded during the day was 30630 in over 2006 trades.
The stock hit an intraday high of Rs. 1374 and intraday low of 1310. The net turnover during the day was Rs. 41136864.