ABB Invests Dollar 266 Million in Sweden Robotics Hub: ABB is investing $266 million in a robotics hub in Sweden. This move announced on a Wednesday, is in response to customer requests to relocate manufacturing operations from Asia to avoid supply chain bottlenecks.
Despite worsening US-China relations, a shift is occurring. Manufacturers and automation enthusiasts are rethinking their reliance on China.
ABB’s CEO, Bjorn Rosengren, said reshoring was making a big comeback. He’s sure his business will stay in China. In a Reuters interview, he said, “Certain companies, especially American ones, may hesitate to invest in China and choose other Asian countries.” He wisely said this.
Rosengren mentioned the slower Chinese economic recovery from COVID-19. Still, he has not changed his mind about the country’s future. “It’s the most significant growth market, and China will stay strong, focusing on domestic growth rather than global impact.
China is still the world’s biggest robot market. ABB acknowledges China’s importance and has no plans to cut spending there. The Swiss company made significant changes in the US and opened a $150 million robotic castle in Shanghai.
Opening in 2026 in Vasteras, Sweden, the fortress will mainly serve European customers. It’s an intelligent solution for Europe’s growing robot demand, projected to grow at 7% annually. The increase is expected to be 50%.
Bjorn Rosengren stressed ABB’s reliance on robotics. Recent division success will continue.
In a pandemic, supply lines are crucial. ABB promptly responds to this call due to its awareness of global supply line risks and challenges, as highlighted during the pandemic.
Fanuc Corp and Kuka are ABB’s rivals. BMW, Scania, and VW employ ABB robots.
Globalization is slowing, and businesses are shifting towards localization. “It’s becoming more local,” Rosengren said.
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Our Reader’s Queries
Did ABB invest $280 million in a new robotics factory in Sweden?
ABB, a digital technology company, has recently invested a whopping $280 million to construct a state-of-the-art robotics campus in Västerås, Sweden. With a focus on the food and beverage industry, ABB provides cutting-edge robotics solutions for four key applications: packaging, picking, palletising, handling, and processing. This investment is set to revolutionize the industry and take it to new heights.
How much does ABB robot cost?
Like other robot brands, used ABB robots come in a range of prices. Older models can be found for as low as $5,000, while larger, more recent models can cost up to $150,000.
What country is ABB robots from?
The ABB Robotics headquarters in the USA can be found in Auburn Hills, Michigan. ABB has a rich history, with the company being formed in 1988 through the merger of ASEA of Vasteras, Sweden (established in 1883) and BBC Brown Boveri Ltd of Baden, Switzerland (established in 1891). The new company was named ABB Asea Brown Boveri Ltd and was headquartered in Zurich, Switzerland.
What is the revenue of ABB robotics?
In the last twelve months ending September 30, 2023, ABB’s revenue reached $31.814B, marking an impressive 8.99% increase from the previous year. Looking back at 2022, the company’s annual revenue was $29.446B, which showed a steady 1.73% growth compared to 2021. These figures demonstrate ABB’s consistent success in generating revenue and maintaining a strong financial position.