Schneider Electric Group on Wednesday said that it will invest ₹850 crore by 2026 in Lauritz Knudsen, earlier known as L&T Switchgear. A new brand identity, Lauritz Knudsen Electrical and Automation, was also unveiled.
Lauritz Knudsen offers low-voltage (LV) switchgear, medium-voltage (MV) switchgear, automation solutions, software and services catering to diverse segments.
Schneider Electric CEO Peter Herweck underscored Lauritz Knudsen’s pivotal role in driving innovation while enhancing global competitiveness.
“Lauritz Knudsen’s vision prioritises innovation and excellence, aligning closely with India’s growth story. Lauritz Knudsen aims to strategically invest approximately ₹850 crore over the next three years, further establishing its role as a significant player in India’s rapid growth trajectory in the electrical sector,” he added.
In 2020, L&T Switchgear became a part of the Schneider Electric Group following L&T’s strategic divestment of its Electrical and Automation (L&T E&A) business.
The company will strategically uphold its core values and unwavering dedication to Viksit Bharat and continue to conceptualise, design and make in India, for India and for the globe. This will accelerate the brand’s mission to drive innovation and excellence in the electrical domain, addressing the needs of India and global markets.
Schneider Electric India MD and CEO, Deepak Sharma, said, “As we embrace the ‘Two Brands Two Sales’ strategy in India with Schneider Electric and Lauritz Knudsen brands, our aim will be to make an even stronger contribution in the transformative journey of India by offering unparalleled choices for our customers. We will continue to listen, partner and innovate for a Viksit Bharat.”
Lauritz Knudsen will fortify its core LV and MV business while continuing to build capabilities in areas like new energy landscape encompassing renewables power generation and e-mobility solutions, serving varied segments including infrastructure, industries, buildings, homes and agriculture.
The company has a manufacturing footprint spanning 2.1 million sq ft of state-of-the-art factories, coupled with a nationwide presence encompassing more than 33 offices across over 500 cities.
It has also trained over 4,00,000 professionals through its six strategically located training centers in Pune, Delhi, Vadodara, Lucknow, Coonoor and Kolkata.