And they already have their first customers lined up: they're attacking the US energy market, where subsidies are lucrative.
Their stated line of operations include:
(i) Thermal power generation system businesses (ii) Geothermal power system business
(iii) Environmental equipment business
(iv) Fuel cells business
(v) Electric power sales business (Japan-only)
(vi) Other related business
While their primary focus seems to be sales, what will be interesting to watch unfold is where energy generation efficiency ends up in the coming years with their research divisions working together – given the range of their joint spectrum, I wouldn't be surprised if we start to see emerging Japanese products outperforming Siemens' current top line power products in the next few years.
Reshared post from +Russell Davison
Mitsubishi & Hitachi attack GE and Siemens #energy
Hitachi and Mitsubishi have launched a 23,000 person joint venture in the thermal power equipment market called Hitachi Mitsubishi Power Systems. They will compete more effectively with global giants GE and Siemens and in foreign tenders on gas turbines, turbine steam boilers, generators or fuel cells. "We aim to take a prominent place on the global market for thermal power equipment thanks to the many technologies and wide range of products of the two groups" said a spokesman for Hitachi Mitsubishi Power Systems.