Hitachi ABB Power Grids today announced that it will be ‘evolving’ to become Hitachi Energy from October 2021. The decision to change name has board and shareholder consent and coincides with the business’ first-year anniversary since it started operations on 1 July, 2020. Hitachi has an 80.1 % stake in the joint venture and ABB holds the balance.
Toshiaki Higashihara, executive chairman and CEO of Hitachi, said, “With climate change and increasing natural disasters, there is a need to solve three social issues worldwide: environment, resilience, and security and safety.
“Hitachi ABB Power Grids provides a variety of solutions that solve these social issues, and by changing the company name to Hitachi Energy, we are further strengthening our commitment to the realisation of a sustainable society.”
From October, Hitachi will change its corporate brand to the Hitachi brand and use it for external and internal communications. The business formally registered Hitachi Energy Ltd on 30 June, and is now undertaking the formal process for the change of names globally.