{
  "id": 15719711,
  "title": "Electrical engineering: ABB expands electrification business in Asia with joint venture",
  "url": "https://urgent.news/2026/10/20/elektrotechnik-abb-baut-elektrifizierungs-geschaft-in-asien-mit-joint",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-20T08:20:37.000Z",
  "source": {
    "name": "Handelsblatt",
    "slug": "handelsblatt",
    "url": "https://www.handelsblatt.com/unternehmen/industrie/elektrotechnik-abb-baut-elektrifizierungs-geschaeft-in-asien-mit-joint-venture-aus/100263473.html"
  },
  "original_language": "de",
  "account": "ABB, a Swiss engineering company, has formed a joint venture with Japan's Mitsubishi Electric, acquiring a 51% stake for approximately $495 million. The venture will focus on low-voltage offerings for Asian markets. ABB also reported a 40% increase in order intake to $12.1 billion for the third quarter, driven by demand for data center construction. The company's CEO, Morten Wierod, stated that ABB has achieved a record order intake and improved operational performance. ABB raised its full-year outlook, targeting low double-digit percentage growth in comparable sales.",
  "summary": "The joint venture will focus on low-voltage offerings for markets in Asia. The transaction is expected to be completed in the second half of 2027.",
  "key_points": [
    "ABB acquires 51% stake in joint venture with Mitsubishi Electric for $495M",
    "Joint venture focuses on low-voltage power distribution in Asia",
    "Deal expected to finalize in second half of 2027"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}