ABB to invest $200 million in European grid equipment
ABB will invest $200 million to expand European production of grid equipment. The move aims to meet rising demand from data centers and electric cars.
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ABB LTD-REG will invest $200M to expand European medium-voltage grid equipment production to meet surging power demand. The three-year program includes a new $100M facility in Dalmine, Italy, and upgrades across five other nations. Electricity is expected to account for nearly 30% of final energy use by 2030, up from about 20% today.
