The combined business of Larsen & Toubro’s Electrical & Automation business and Schneider Electric India’s Low Voltage and Industrial Automation Product business – Schneider Electric India Private Limited (SEIPL), owned 65% by Schneider Electric, and global investment company Temasek owns the remaining stake. In the mission of boosting India’s economic growth and supporting the government’s vision of an Atmanirbhar Bharat, SEIPL will provide a wide range of products and technologically superior solutions with pan India geographical reach.
Jean-Pascal Tricoire, Chairman & CEO, Schneider Electric said: “The coming together of Schneider Electric and L&T’s Electrical & Automation business combines two great teams highly professional and specialised in the space of energy management, automation, and passionate about technology, innovation, quality, safety, sustainability, and social responsibility. This newly merged company will serve the priorities of India: Make in India for India and the rest of the world, Digital India, Skill India, Sustainable Energy, Smart Cities & Infrastructure for self-reliance, to bring tremendous value to our customers and stakeholders, employees, partners, suppliers, and community in which the company develops. We are also proud to partner with Temasek, who bring along their deep knowledge of India, and their coaching to help to develop the export of the company. This major strategic move will make India, Schneider Electric’s third-largest business in the world, and one of the four major global Schneider hubs for global R&D, global manufacturing.”
