Schneider Electric has expressed its intention to invest ₹425 crores in Bengaluru’s new smart factory.
Story so far: In the upcoming 12 to 18 months, Schneider Electric said it would invest ₹425 crores to build a new smart factory and consolidate six of its current factories under a single campus in Bengaluru. Currently, it operates 10 facilities in Bengaluru.
- The investment would increase its production capacity from a current industrial setup of 5,00,000 sq ft to 1 million sq ft.
- This will also result in the creation of 1,000 new jobs.
New facilities: According to the chief supply chain officer, the new facilities will be utilised largely for manufacturing products from two of the company’s businesses: energy management and industrial automation. Products such as drives, low voltage drives, power distribution units, single-phase UPS, and three-phase UPS will be made. The business will also produce digital energy goods related to meters.