STORY: ABB plans to expand business in China: senior executive
SHOOTING TIME: Jan. 7, 2025
DATELINE: Jan. 11, 2025
LENGTH: 00:01:32
LOCATION: SHANGHAI, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of ABB's factory in Shanghai
2. SOUNDBITE 1 (English): BRANDON SPENCER, President of Motion Business Area & Member of the Group Executive Committee of ABB Ltd.
3. various of ABB's factory in Shanghai
4. SOUNDBITE 2 (English): BRANDON SPENCER, President of Motion Business Area & Member of the Group Executive Committee of ABB Ltd.

STORYLINE:
A senior executive of ABB said that he is very confident about further expanding the company's business in China. Brandon Spencer said China is currently ABB's second-largest market globally.

SOUNDBITE 1 (English): BRANDON SPENCER, President of Motion Business Area & Member of the Group Executive Committee of ABB Ltd.
"Our motto for sure in Motion is that we want to grow more than the market in 2025 through 2027, and I think China provides us a great opportunity and a great platform to be able to do that with the innovation that we have here, with the quality that we have here, and certainly with the competitiveness that we have here."

SOUNDBITE 2 (English): BRANDON SPENCER, President of Motion Business Area & Member of the Group Executive Committee of ABB Ltd.
"So we have three hubs. We have (hubs in) Shanghai, Beijing, and Nanjing, where we have kind of R&D centers for the Motion business. If you look across the last five years, we've increased our headcount 40 percent in China and we will continue to increase that headcount. As I said, it's our second-largest market in the world and growing. So we like increasing our footprint not only in terms of infrastructure, buildings and factories and these things, but people. We want to develop here in China. So if you think about our localization, China for China. So we want to develop R&D and have the products here where we go from design, supply chain, manufacturing, and ultimately delivery of units, all sourced and done here in China. So we will continue to invest here in China, across our portfolio."

Xinhua News Agency correspondents reporting from Shanghai, China.
(XHTV)