ABB announced on 12 September it is planning to spend $280 million on a new robotics factory in Sweden to meet the growing demand triggered by customers moving production from Asia closer to their home markets.
ABB products, ranging from industry motors and drive chargers for electric vehicles, will be built at the new factory in Vasteras, eastern Sweden.
ABB CEO Björn Rosengren said, “The investment in our new campus is driven by customer demand and projected market growth.”
The company said the European robotics and automation market is set to grow by 7% per Asia between 2023 and the end of 2027.
The company is set to compete with Chinese-owned Kula and Fanuc Corp and supplies robots to companies including BMW, Volkswagen, and Scania.
Sami Atiya, President of ABB’s Robotics and Discrete Automation Business Area, said, “This new Campus is key in supporting our European customers as they accelerate investment in robotics and AI due to the reshoring of industry, the move to more sustainable supply chains and long-term labour shortages.”