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Siemens Expands Presence in India

Siemens

Siemens has agreed with Siemens Energy indirect financial measures totaling one billion euro to allow third parties to arrange guarantees for Siemens Energy….reports Asian Lite News

 Siemens and Siemens Energy will jointly propose to the Board of Directors of Siemens Ltd. India to separate the energy business by way of a demerger. Simplification of corporate setup in one of the fastest growing and strategically important markets.

Siemens has agreed with Siemens Energy indirect financial measures totaling one billion euro to allow third parties to arrange guarantees for Siemens Energy.

Siemens AG has taken measures to support the stability of Siemens Energy AG and accelerate separation in India – in the best possible interests of all parties.

Specifically, Siemens intends to enter into a share purchase agreement with Siemens Energy to acquire an 18 per cent stake in Siemens Ltd. India from Siemens Energy for a purchase price of 2.1 billion euro in cash. This would increase Siemens’ stake in the publicly listed Siemens Ltd. India from 51 per cent to 69 per cent, while Siemens Energy’s stake would decrease from 24 per cent to 6 per cent.

With the intended acquisition, Siemens and Siemens Energy accelerate unbundling the business activities of the Indian subsidiary of Siemens. The purchase price reflects a customary discount of 15 per cent on the 5-trading-days volume-weighted average price before the day of signing. Siemens will provide no new guarantees to Siemens Energy.

“Together, we shaped a solution that is in the best possible interests of all parties and accelerates the separation of Siemens and Siemens Energy in India. Besides the immediate cash inflow, we are also enabling an additional line for customer guarantees, making a strong overall contribution to the future stability and growth of Siemens Energy,” said Roland Busch, President and Chief Executive Officer of Siemens AG.

“For our shareholders, the accelerated demerger of Siemens Ltd. India’s energy activities will further sharpen the portfolio focus of Siemens. It also simplifies and strengthens our corporate structure in India, a fast-growing and strategically important market.”

As part of the spin-off in 2020, Siemens and Siemens Energy did not separate their businesses in India as it was not feasible at that time. As a next step, Siemens and Siemens Energy have agreed to propose to the Board of Directors of Siemens Ltd. India a demerger of the energy business. Siemens Energy is to ultimately acquire a controlling stake in the demerged energy business. The aim is to complete the demerger in 2025 – significantly earlier than previously planned.

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Siemens, Microsoft Collaborate on AI

Siemens and partners launch AI-driven Industrial Copilot for enhanced human-machine collaboration in manufacturing.”…reports Asian Lite News

Industrial manufacturing major Siemens and tech giant Microsoft on Tuesday joined hands to bring the benefits of generative AI to industries worldwide.

Working together, the companies are introducing Siemens Industrial Copilot, an AI-powered jointly developed assistant aimed at improving human-machine collaboration in manufacturing.

“We’re building on our longstanding collaboration with Siemens and bringing together AI advances across the Microsoft Cloud with Siemens’ industrial domain expertise to empower both frontline and knowledge workers with new, AI-powered tools, starting with Siemens Industrial Copilot,” Satya Nadella, Chairman and CEO, Microsoft, said in a statement.

Siemens Industrial Copilot will allow users to rapidly generate, optimise and debug complex automation code, and significantly shorten simulation times, reducing a task that previously took weeks to minutes.

“This has the potential to revolutionise the way companies design, develop, manufacture, and operate. Making human-machine collaboration more widely available allows engineers to accelerate code development, increase innovation and tackle skilled labour shortages,” said Roland Busch, CEO of Siemens AG.

Moreover, the companies foresee AI copilots assisting professionals in various industries, including manufacturing, infrastructure, transportation, and healthcare. Numerous copilots are already planned in the manufacturing sectors, such as automotive, consumer package goods and machine building.

Leading automotive supplier, Schaeffler AG, is an early adopter of Siemens Industrial Copilot, the company said.

In addition, the company mentioned that the Siemens Teamcenter app for Microsoft Teams will be generally available in December 2023 and accelerate innovation across the product lifecycle.

This new app uses the latest advances in generative AI to connect functions across the product design and manufacturing lifecycle, such as frontline workers to engineering teams.

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Siemens charges up e-mobility biz

Siemens in order to have a major play in India’s fast growing EV charging infrastructure sector has inked an agreement to buy the EV division of Mass-Tech Controls….reports Asian Lite News

In a sale and purchase transaction, Siemens Ltd on Friday said it has decided to sell its low voltage motors and geared motor business for Rs 2,200 crore and buy the electric vehicle (EV) division of Mass-Tech Controls Private Ltd for Rs 38 crore.

According to Siemens, the low voltage motors and geared motor business will be sold to group outfit Siemens Large Drives India Private Limited, an entity wholly owned by Siemens AG.

The sale will take effect from October 1 this year.

The Board of Siemens has also decided to consider the distribution of 100 per cent of the sale consideration as a special dividend, at the first Board Meeting after completion of the proposed transaction.

For FY 2022, the low voltage and geared motor business recorded a Revenue from Operations of Rs 1,061 crore and Profit from Operations of Rs 132 crore.

According to Siemens, the sale transaction is consequent to the intent of Siemens AG to carve out the low voltage motors and geared motors business among others globally into a legally separate company and is based on Siemens AG’s decision to form Innomotics, an integrated provider of motors and large drives.

Effective July 1, 2023, the carve-out in Germany will be completed and Innomotics GmbH (Germany) will operate as a legally separate and independent company within the Siemens Group. Siemens AG indicated in a second step to diligently review options regarding the best future ownership of Innomotics.

Such options include a public listing as well as a combination with a strategic partner or long-term oriented financial investor, Siemens said.

Be that as it may, Siemens in order to have a major play in India’s fast growing EV charging infrastructure sector has inked an agreement to buy the EV division of Mass-Tech Controls.

According to Siemens, the EV division is engaged in design, engineering and manufacturing of a wide range of AC chargers, and 30 to 300kW capacity DC chargers for various end applications for EVs.

The purchase consideration is Rs 38 crore on a cash free and debt free basis and subject to other adjustments that are mutually agreed between the parties to the transaction, Siemens said.

During FY23, the EV division did a turnover of about Rs 16.7 crore.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said: “This acquisition will enable Siemens Limited to address the rapidly growing Indian e-mobility market by complementing our global portfolio. The acquisition will help us to accelerate our growth plans in the e-mobility business segment and will expand our portfolio of sustainability solutions for our customers.”

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Siemens ready to help India realise EV mobility dream

Siemens India has already signed an MoU with Switch Mobility to deliver cost-effective e-mobility solutions for commercial electric vehicle customers…writes NISHANT ARORA

As the Indian government pushes for electric vehicle (EV) adoption and installing the public charging infrastructure, German industrial manufacturing major Siemens has stressed that it has proven capabilities to help the government realise its passenger EV mobility dream too.

The company is currently working on the commercial EV mobility side in India, working with leading players like Ashok Leyland’s EV arm Switch Mobility.

Sunil Mathur, Managing Director and CEO, Siemens Limited, told IANS that they are continuously in touch with the government as well as multiple stakeholders.

“The direction of the government is very clear, and the performance-linked incentive (PLI) scheme is also very consequent to their strategy of driving e-mobility. Now is the time for the Indian industry to get its act together,” Mathur said.

According to him, on the commercial EVs, there’s definitely a lot of traction happening in India.

“On passenger vehicles, there are a couple of other companies who have entered the charging infrastructure space. We have not entered that space currently on the charging side. But we have the required capabilities for that market too,” Mathur informed.

According to Dr Peter Koerte, Chief Technology and Strategy Officer, Siemens AG, the company has charging infrastructure outside India.

“We are providing high-performance charging all the way to 250 KW roadside charging when you travel a longer distance. We provide solutions for destination charging, workplace charging and home charging, etc,” Koerte told IANS.

In India, the company has laid its eyes first on the commercial EV business first, but “what I am trying to convey is that we have capabilities on the passenger side too,” Koerte emphasised.

Siemens India has already signed an MoU with Switch Mobility to deliver cost-effective e-mobility solutions for commercial electric vehicle customers.

Last year, ride-hailing company Ola partnered with Siemens to rapidly build its electric vehicle manufacturing facility.

Ola had access to Siemens’ integrated Digital Twin design and manufacturing solutions to digitalise and validate product and production ahead of actual operations.

According to Mathur, the bigger challenge in the passenger EV mobility is paying infrastructure for the entire drivetrain, propulsion systems and the rest.

“That is the government’s vision and I think industry is jumping into that. We are talking to a couple of players who are actually going to be manufacturing all this, and there is a lot of pressure on them from the government to start delivering. So, I am hopeful that it will happen soon,” said Mathur.

The company has a unique project called ‘Digital Twin’ which is a virtual representation of a physical product or process, used to understand and predict the physical counterpart’s performance characteristics.

‘Digital twins’ are used throughout the product lifecycle to simulate, predict, and optimise the product and production system before investing in physical prototypes and assets.

According to Mathur, nearly 600 mid to small companies in India are already engaging with ‘Digital Twin’ product to eliminate the need for physical prototypes, reducing development time, and improving quality of the finalised product or process.

“A large automotive company cannot achieve the levels of productivity unless all the ancillary players downstream are also in the same loop, so to speak,” said Mathur.

“We are talking to the players in tier 2, 3 and 4 towns and cities, helping them become much more productive with the ‘Digital Twin’ solution,” he mentioned.

Meanwhile, Siemens Digital Industries Software on Friday announced it has appointment Mathew Thomas as Country Manager and Managing Director for its India operations.

Thomas succeeds Suprakash Chaudhuri with immediately effect, the company said in a statement.

“His strong experience in business will help Siemens continue to develop solid relationships with our customers in the region, assist them in making the switch to a software-driven manufacturing strategy and open up fresh prospects for the market,” said Bas Kuper, SVP and MD Asia Pacific, Siemens Digital Industries Software.

Thomas earlier served as head of sales for software and hardware business for four years.

“I look forward to helping strengthen our client and ecosystem relationships in India that support our growth ambitions in this region,” he said.

Prior to joining Siemens Digital Industries Software, Mathew worked at Ernst & Young (EY) where he was part of the digital and technology advisory leadership team and helped grow the technology Business in the country.

He has also worked with companies like SAP, Oracle, Wipro, Tata and Godrej.

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