Lauritz Knudsen, a subsidiary of the Schneider Electric Group, has unveiled ambitious plans to invest approximately Rs 850 crore over the next three years. This strategic investment aims to position Lauritz Knudsen as a significant player in India’s burgeoning electrical sector, further solidifying its commitment to driving innovation and excellence in the country’s rapidly evolving landscape.
The announcement comes following Schneider Electric’s acquisition of L&T Switchgear, Larsen & Toubro’s electrical and automation business, in 2020, for a staggering Rs 14,000 crore. As part of a comprehensive rebranding initiative, L&T Switchgear will now be known as Lauritz Knudsen, signaling a new era of growth and expansion for the company in the Indian market.
In a statement, Lauritz Knudsen emphasized its dedication to the vision of Viksit Bharat, or developed India, by conceptualizing, designing, and manufacturing products locally. This commitment aligns with the company’s mission to drive innovation and excellence in the electrical domain, catering to the diverse needs of both Indian and global markets.
The investment will primarily focus on strengthening Lauritz Knudsen’s core low and medium voltage business while also expanding capabilities in emerging areas such as renewable power generation and e-mobility solutions. The company aims to serve various sectors, including infrastructure, industries, buildings, homes, and agriculture, by delivering cutting-edge solutions that address evolving market demands.
Peter Herweck, Chief Executive Officer at Schneider Electric, expressed confidence in Lauritz Knudsen’s vision and its alignment with India’s growth trajectory. He emphasized the company’s commitment to offering unparalleled choices for customers through its ‘Two Brands Two Sales’ strategy in India, leveraging the strengths of both Schneider Electric and Lauritz Knudsen brands.
Deepak Sharma, Zone President of Greater India, MD, and CEO of Schneider Electric India, reiterated the company’s dedication to India’s transformative journey. He highlighted the immense opportunities present in the energy space and underscored the significance of the Make in India program in driving innovation and technology development locally.
“Lauritz Knudsen’s vision prioritizes innovation and excellence, aligning closely with India’s growth story,” stated Sharma. “The optimism is very high, and we are committed to leveraging our manufacturing capabilities and nationwide presence to contribute to India’s development.”
Formerly known as L&T Switchgear, Lauritz Knudsen boasts a robust manufacturing footprint spanning 2.1 million square feet of state-of-the-art factories. The company has established a nationwide presence with over 33 offices across 500 cities and has trained over 400,000 professionals through its strategically located training centers in Pune, Delhi, Vadodara, Lucknow, Coonoor, and Kolkata.
The investment announcement underscores Lauritz Knudsen’s unwavering commitment to innovation, sustainability, and supporting India’s journey towards self-reliance in the electrical sector. With its substantial investment and strategic initiatives, the company is poised to play a pivotal role in shaping India’s electrification landscape and driving economic growth in the years to come.
