Schneider Group-owned Lauritz Knudsen to invest Rs 850 crore in 3 years

L&T Switchgear, the electrical and automation arm of L&T, which Schneider Electric acquired in 2020, is rebranded as Lauritz Knudsen
Lauritz Knudsen, owned by Schneider Electric Group, aims to strategically invest approximately Rs 850 crore over the next three years to establish itself as a significant player in India's rapid growth trajectory in the electrical sector.

In 2020, Schneider Electric acquired L&T Switchgear, Larsen & Toubro's electrical and automation business, for Rs 14,000 crore. As part of a rebranding exercise, L&T Switchgear will now be known as Lauritz Knudsen.

"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," it said in a statement.

Lauritz Knudsen said it will strengthen its core low and medium voltage business while continuing to build capabilities in areas like the new energy landscape encompassing renewable power generation and e-mobility solutions, serving varied segments including infrastructure, industries, buildings, homes, and agriculture.

"Lauritz Knudsen's vision prioritises innovation and excellence, aligning closely with India's growth story," said Peter Herweck, chief executive officer at Schneider Electric.

"As we embrace the 'Two Brands Two Sales' strategy in India with Schneider Electric & 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 (developed India)," said Deepak Sharma, zone president of Greater India, MD and CEO of Schneider Electric India.

"The opportunity India brings in the energy space is huge. We in India are now self-sufficient and the support we get through the Make in India programme to build the technologies in India and then bringing those to the world is the cherry on the cake. The optimism is very high," added Sharma.

Lauritz Knudsen, formerly L&T Switchgear, boasts a robust manufacturing footprint spanning 2.1 million square feet of state-of-the-art factories, coupled with a nationwide presence encompassing over 33 offices across 500 cities. It has trained over 400,000 professionals through its six strategically located training centres in Pune, Delhi, Vadodara, Lucknow, Coonoor, and Kolkata.

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This release was published on openPR.