ABB CEO Spiesshofer meets Modi, discusses e-mobility, renewable energy

ABB Chief Executive Ulrich Spiesshofer met Prime Minister Narendra Modi and discussed how the company can help accelerate the transition of public transportation to electric power, the company said Saturday.

The meeting between Modi and Spiesshofer took place on Friday during the Global Mobility Summit 'MOVE' in New Delhi.

In a filing to the BSE, power and automation technology firm ABB said 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 Indias electric mobility mission 2030, Spiesshofer said.

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 shift around 15 per cent public transport vehicles to electric mobility.

"This is not just limited to EV (electric vehicle) 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," Spiesshofer added.

Addressing the summit yesterday, Modi had pitched for investments in electric vehicles across the value chain from batteries to smart charging.

The government is targeting electric vehicles to account for 15 per cent of all vehicles sales in five years in a bid to curb greenhouse gas emissions and dependency on fossil fuels. An estimated 2,000 EVs were sold last year.

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, the stock exchange filing said.

ABB operates in more than 100 countries with about 1.47 lakh employees.