GE expects to spend more than $2 billion into efforts in China in the next two years, much of on low-carbon emission technologies.

 

CEO said Jeffrey Immelt during a visit to Beijing this week the conglomerate would invest $500m on R&D, and more than $1.5bn on technology and financial services joint ventures, Business Green reports. 

 

“The new joint ventures are in line with our strategy to build partnerships in China to support our business here and globally,” Immelt said. 

 

The company has signed JVs with two Chinese state-owned energy utilities – to make electricity grid monitoring gear with Wuhan NARI Co, and to buy a controlling stake in green power distribution equipment maker Shanghai Tianling Switchgear.

 

It will also jointly make railway rolling stock with Chengdu Locomotive, and smart grid signaling gear with the Beijing National Railway Research & Design Institute of Signal & Communication.

 

It plans to spend another $500 million on customer innovation centers in six cities around China.

 

GE announced earlier this year that it would invest $10 billion on cleantech R&D over the next five years.