ABB Forms Joint Venture with Mitsubishi Electric to Strengthen Position in Asia-Pacific

ABB Ltd announced a joint venture with Mitsubishi Electric to enhance its electrification presence in Asia-Pacific markets. The joint venture, involving a $495 million investment, allows ABB to acquire a 51% stake in Mitsubishi's low-voltage power distribution business. This collaboration aims to bolster ABB's leadership in low-voltage power distribution.

Set to conclude by the second half of 2027, the deal combines ABB's global network with Mitsubishi's market presence in Japan. The transaction, valued at approximately $890 million, is expected to drive synergies and expand both companies' technological capabilities and customer reach in the region.