The ABB engineering group has indicated that its Motion division (drive systems) will contribute to the group's growth and profitability, ahead of its investor day which is being held in Helsinki, Finland on Tuesday.
The said division, which specializes in electric motors, in particular, intends to exceed the growth of its market by 1.5 times, supported by the energy transition in progress.
Furthermore, this unit will focus on various markets such as renewable energy, heavy electric vehicles, food and beverages, and water management. Acquisitions are also planned.
The sector will also have to contribute to the group's operating profitability, which should reach at least 15% from 2023.