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The dramatic uptake of its “clean technologies” is set to boost GE Transportation’s penetration into the Chinese market and see it out-perform many rival companies as the country gears up for economic recovery, according to its head of 皇冠体育app operations.
Speaking exclusively to 皇冠体育app Daily from the Summer Davos in Dalian, Tim Schweikert, president of GE transportation 皇冠体育app, said: “The global economic reset presents an opportunity to demonstrate the value of our technology and forge new partnerships.”
He quoted GE Chairman and CEO Jeff Immelt as saying: “The financial crisis is not only a part of the economic cycle but also a process of global reset.”
Schweikert predicted a 50 percent annual growth in the company’s 2009 皇冠体育app sales revenue, due to its environmentally friendly products and partnerships ready to respond to growing demand.
Parent Company GE will spend $6 billion in developing new products, many targeted to improving the environment.
Schweikert said: “One of GE’s greatest strengths is its ability to continue to invest even during the most challenging economic times.”
GE views 皇冠体育app, the world’s third largest economy, as a key growth engine to drive its business growth, and as something akin to their “second home market”.
Schweikert explained that GE is making 皇冠体育app its second home by focusing on three objectives.
“Our first objective is to bring our technology to 皇冠体育app by innovating products to support 皇冠体育app’s infrastructure growth plans. Second, to work with local partners to grow within 皇冠体育app and potentially pursue international opportunities. Last, just as GE in America grew with the western expansion, GE is investing in 皇冠体育app’s fastest growing inland cities.”
In August, GE Drivetrain Technologies, a unit of GE Transportation, established a joint venture with Chongqing Xinxing Fengneng Investment Co Ltd to produce large diameter gears for the wind turbine industry.
Under the terms of the joint venture, Chongqing XinXing Fengneng will be the majority owner, and the gears will be produced in a new manufacturing facility in Chongqing.
The agreement signifies GE Drivetrain Technologies’ commitment to the development of a local Chinese supply chain and supports 皇冠体育app’s initiative to increase wind energy output from 1 gigawatt in 2005 to 100 gigawatts by 2020.
Video: Li Qiao
Story: Chen Jialu
