GE Looks to Double Revenue in China by 2014
There’s no arguing that China has one of the biggest consumer bases in the world, and General Electric Co. (GE), is looking to turn over some hefty revenues in China in coming years. The company’s president in China, Mark Hutchinson, says the $5 billion in revenue GE made in China in 2010 is too low for a market of that size, and is looking to increase revenue dramatically by 2014.
“It should be a lot bigger,” says Hutchinson. “My job is to work with the team and with our partners to grow that. We are going to double our business in China, including revenue, over the next three years.”
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GE China’s major business segments include: aviation, healthcare, energy, and transportation. GE Healthcare, for example, was established in China in 1979 and has grown to seven global manufacturing sites with over 4,500 employees.
According to Hutchinson, GE is looking to partner with more Chinese firms in various market segments through the formation of more joint ventures.
“When people ask me whether GE is afraid of the risk of Chinese partners becoming competitors, I say that competition is a good thing,” notes Hutchinson. “It helps us get better. On the other hand, if we team up together, we can grow together. It is going to be a win-win partnership.”
Amazon's renewable energy projects surpass 200 milestone
Amazon claims it is now Europe's largest corporate buyer of renewable energy as its projects surpassed 200 globally.
Broken down, it has 136 solar rooftops on facilities and stores and 71 utility-scale wind and solar projects, nine of which were announced today covering the US, Canada, Spain, Sweden and UK. They include:
First solar project paired with energy storage Based in California’s Imperial Valley, Amazon’s first solar project paired with energy storage allows the company to align solar generation with the greatest demand. The project generates 100MW of solar energy, and includes 70MW storage.
It now has more than 2.5 GW of renewable energy capacity, enough to power more than two million European homes a year, and aims to power all its activities with renewables by 2025 and net zero by 2040.
Amazon and Global Optimism co-founded The Climate Pledge in 2019, a commit ment to reach the Paris Agreement 10 years early and be net-zero carbon by 2040. The pledge now has 53 signatories, including IBM, Unilever, Verizon, Siemens, Microsoft, and Best Buy.
A map of all of Amazon’s renewable energy projects around the world can be found here.