© Reuters. The logo of Swiss energy technology and automation group ABB is presented at the Swiss Economic Forum (SEF) conference in Interlaken, Switzerland, on May 24, 2019. REUTERS/Arnd Wiegmann/Files
ZURICH (Reuters) – ABB aims to grow sales in its sports business 50 percent faster than the broader electric motor market, the Swiss engineering firm said on Tuesday ahead of the unit’s investor day.
The company manufactures motors and drives aimed at enabling faster growth by offering more energy-efficient variable-speed drives.
Currently, only 23 percent of the world’s 300 million industrial electric motors are equipped with variable speed drives, which consume less energy and are more environmentally friendly, ABB said.