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May 29, 2024

Lauritz Knudsen to Invest Rs 850 Crore in India: A Strategic Move by Schneider Electric Group

Lauritz Knudsen, a subsidiary of the Schneider Electric Group, has announced a significant investment of approximately Rs 850 crore over the next three years. This strategic move aims to solidify its presence in India’s burgeoning electrical sector, aligning with the country’s rapid growth trajectory.

In a major acquisition in 2020, Schneider Electric took over L&T Switchgear, the electrical and automation business of Larsen & Toubro, for Rs 14,000 crore. As part of this rebranding initiative, L&T Switchgear has been renamed Lauritz Knudsen. This rebranding marks a new era for the company, focusing on innovation, excellence, and a strong commitment to “Viksit Bharat” (Developed India).

“The company will strategically uphold its core values and unwavering dedication to Viksit Bharat, continuing to conceptualize, design, and manufacture in India, for India and 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,” stated Lauritz Knudsen in a recent announcement.

Lauritz Knudsen plans to bolster its core low and medium voltage business while expanding its capabilities in new energy landscapes, including renewable power generation and e-mobility solutions. These efforts will cater to diverse segments such as infrastructure, industries, buildings, homes, and agriculture.

“Lauritz Knudsen’s vision prioritizes innovation and excellence, aligning closely with India’s growth story,” said Peter Herweck, CEO of Schneider Electric. This vision is echoed by Deepak Sharma, Zone President of Greater India, MD, and CEO of Schneider Electric India. He emphasized the company’s commitment to the ‘Two Brands Two Sales’ strategy in India with both Schneider Electric and Lauritz Knudsen brands. “Our aim is to make a stronger contribution to India’s transformative journey by offering unparalleled choices for our customers. We will continue to listen, partner, and innovate for a Viksit Bharat,” Sharma added.

The opportunity presented by India’s energy sector is immense. Sharma highlighted the nation’s self-sufficiency and the support received from the Make in India program, which facilitates the development of indigenous technologies that can be showcased globally. “The optimism is very high,” he remarked.

Lauritz Knudsen, formerly known as L&T Switchgear, boasts a robust manufacturing infrastructure spanning 2.1 million square feet of state-of-the-art factories. The company has a nationwide presence with over 33 offices in 500 cities and has trained more than 400,000 professionals through its six strategically located training centers in Pune, Delhi, Vadodara, Lucknow, Coonoor, and Kolkata.

The solutions provided by Lauritz Knudsen are integral to major projects and infrastructure across the country. These include power plants, refineries, water and wastewater management systems, airports, metros, offices, stadiums, universities, and hospitals. This extensive footprint underscores the company’s pivotal role in India’s infrastructure and industrial sectors.

With this significant investment, Lauritz Knudsen aims to leverage its expertise and extensive network to further its impact in India’s electrical sector. This move not only reaffirms Schneider Electric’s commitment to the Indian market but also strengthens Lauritz Knudsen’s position as a key player in driving innovation and excellence in the electrical domain, contributing significantly to India’s development journey.

Jhumpa Lahiri

Jhumpa Lahiri

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