09/21/2023 | Press release | Distributed by Public on 09/20/2023 20:01
Tokyo, September 21, 2023 -Hitachi Construction Machinery Co., Ltd. (TSE: 6305, President and Executive Officer: Masafumi Senzaki, "Hitachi Construction Machinery") will launch a new organization on October 1 called the "Zero Emissions Business Model Development Project" within the New Business Creation Unit to promote initiatives aimed at achieving zero emissions at construction sites. Going forward, the company will advance open innovation with a focus on the new organization and promote various initiatives to electrify construction sites and develop business models with agile methods.
The Hitachi Construction Machinery Group is also focusing its efforts on strengthening its value chain business which consists of parts and services, rental, used equipment, and remanufacturing of parts and machines in addition to new machinery sales. We also contribute to the stable operation of the machines by utilizing digital and communication technologies to perform maintenance and parts replacement at the appropriate time. As a result, these initiatives extend machinery lifetimes and create quality used equipment which will eventually lead to a global circular economy.
In addition, as efforts to reduce CO2 continue to advance globally, the shift to zero emissions at customer sites has become an urgent priority. Currently, the Hitachi Construction Machinery Group has assembled a product lineup consisting of four battery-driven excavator models aimed at the European market, which has the world's toughest environmental regulations in the construction industry and customers with high-level needs.
Achieving zero emissions at construction sites requires not only the electrification of construction machinery but also the development and efficient operation of charging equipment and other infrastructure. Currently, various companies are developing systems to supply power from grid power sources, portable charging equipment, battery standardization, etc.
Hitachi Construction Machinery newly established its "Zero Emissions Business Model Development Project" as an organization for the agile promotion of business model research, validation, and improvement over a short period of time in collaboration with various business partners around the world going forward.
Through these initiatives, the Hitachi Construction Machinery Group will promote open innovation with various business partners to realize the coming zero emissions society. Furthermore, the Group will strive to solve customer issues going forward as a "true solutions provider."
Hitachi Construction Machinery Co., Ltd. (TSE: 6305), headquartered in Tokyo, Japan, is a construction machinery manufacturer which globally deploys development, manufacturing, sales, and service businesses for its hydraulic excavators, wheel loaders, compaction equipment, and mining machinery, etc. In addition to its new machinery business, Hitachi Construction Machinery is expanding its "value chain businesses" of parts and services, remanufacturing (parts and machines), rentals, and used equipment as it aims to grow together with customers as a true solutions provider that offers innovative solutions to customers. With roughly 25,000 employees around the world, the consolidated sales revenue for Hitachi Construction Machinery was ¥1,279.5 billion for fiscal year 2022 (ended March 2023) with an overseas sales revenue ratio of 82%. For more details, please see the the company's website.
Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.