SKF Group to ramp up investments in China

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 localizing 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 digitalization 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.