STOCKHOLM: Swedish bearing manufacturer SKF Group spoke highly of China’s rapid development of manufacturing in emerging sectors like electric vehicles and wind power equipment, saying the company will bring new opportunities for global industrial growth.
The group will increase investments in China, said Annika Olme, chief technology officer of SKF, adding the focus will be on localising the complete value chain, encompassing production, procurement, technical research and development.
“We are committed to ramping up investments in research and development, crafting technologies and solutions that enhance operational efficiency, cut emissions and advance the digitalisation of the entire value chain.
“Moreover, we will intensify investments in automation and regional growth,” said Olme, who is also the company’s senior vice-president for technology development.
“Being the world’s second-largest economy and a pivotal single market on a global scale, China has a substantial role in the international industrial chain, influencing the advancement of diverse industries worldwide.
“The progress toward decarbonisation within China’s industrial sector also has a big influence on global industrial development.
“Moreover, the nation’s dedication to fostering new quality productive forces generates a multitude of new opportunities across various industries,” she added.
Olme said that China’s rapid advancement in new energy vehicles and wind turbines necessitates bearings and parts manufacturing that meet elevated technical standards while maintaining cost efficiency.
In line with these demands, SKF has proactively pursued partnerships within the region, exemplified by its provision of ceramic ball bearings to Nio, a prominent electric vehicle manufacturer.
SKF also supplies parts to industries like rail transportation and steel, among others.
Currently, the group employs around 6,000 staff members in China, operates nine production facilities and collaborates with over 150 authorised partners. — China Daily/ANN
