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Killexams : Hitachi Professional Study Guide - BingNews Search results Killexams : Hitachi Professional Study Guide - BingNews Killexams : Hitachi: A Mixed View

Reimphoto/iStock Editorial via Getty Images

Elevator Pitch

I am revising my rating for Hitachi, Ltd.'s (OTCPK:HTHIY) [6501:JP] stock from a Buy to a Hold. I previously touched on Hitachi's "revenue growth outlook" and "portfolio restructuring activities" in my earlier update for the company written on December 10, 2021.

I see Hitachi's shares as deserving of a Hold rating, instead of a Buy or Sell. On the negative side of things, Astemo, Hitachi's automotive systems business, needs to reinvent itself to be more resilient and adapt to changes in the auto market. On the positive side of things, GlobalLogic, a new business bought by Hitachi in 2021, is well-positioned to meet growing demand for digital transformation services, and the planned sale of its interests in some listed businesses can fund new growth initiatives.

Readers can trade in Hitachi's shares on either the OTC market or the Tokyo Stock Exchange. The trading liquidity for Hitachi's OTC shares is pretty decent based on its three-month average daily trading value of around $3 million. The company's Japan-listed shares offer even better liquidity with an average daily trading value in excess of $100 million for the past three months. Investors can consider US brokers like Interactive Brokers (IBKR) and Fidelity which provide trading access for Japan-listed stocks, if they intend to trade in the relatively more liquid Tokyo-listed Hitachi stock.

Short-Term Outlook For Hitachi Is Unfavorable

The near-term prospects for Hitachi aren't encouraging.

Hitachi's most recent quarterly financial performance was poor. In the first quarter of fiscal 2022 (year ended March 31, 2023 as defined by the company), the company's net profit attributable to shareholders fell by -70% YoY to JPY37.1 billion. Revenue for Hitachi contracted by -12% QoQ to JPY2,570 billion in Q1 FY 2022.

Looking ahead, the sell-side analysts forecast (source: S&P Capital IQ) that Hitachi's YoY top line expansion will moderate from +8.5% in Q1 FY 2022 to +1.9% for Q2 FY 2022, and the company's revenue is projected to decrease by -11.4% YoY in Q3 FY 2022.

The company's automotive systems business, otherwise referred to as Astemo, was the main factor contributing to Hitachi's poor first-quarter financial performance and weak short-term outlook. Astemo was the only loss-making business segment for Hitachi in the recent quarter, with the automotive systems business generating a Q1 FY 2022 net loss attributable to shareholders amounting to -JPY20.9 billion. I will touch on the specific headwinds for Astemo in the subsequent section of the article.

Semiconductor Chip Shortage And China Lockdown

Many companies have been badly affected by the shortage of semiconductor chips , and Hitachi's Astemo was a victim as well.

Major automotive OEMs pulled back on their manufacturing plans and targets as they didn't have sufficient semiconductor chips, and this in turn led to lower sales volume for automotive systems company, Astemo.

But it is worthy of note that structural issues are at also at play here. Due to the business model that Astemo has chosen to adopt, it is at a bigger risk of being vulnerable to disruptions relating to the auto makers' production and new industry trends.

Hitachi acknowledged at the company's Q1 FY 2022 earnings call that Astemo is largely "a subcontractor" engaged in "providing parts or components to automotive manufacturers" which "occupies a very large portion" of its business. Hitachi also highlighted at the recent quarterly briefing that "if electrification continues, they (the future electric vehicles) are not heavy chassis that used to be in the past."

In other words, even if the semiconductor shortage issue is resolved in time to come, Hitachi's automotive systems business or Astemo could still underperform if it can't pivot successfully. Hitachi specifically mentioned at the first-quarter investor call that "we want to introduce our own model" rather than remain as a subcontractor, and it will also "allocate more resources" to meeting the demand for lightweight chassis catering to EVs.

Another key factor that resulted in lower-than-expected automotive OEM production and weaker-than-expected sales for Astemo was the COVID-19 lockdowns in China which is the key manufacturing location for many automakers.

China's decision to continue with its COVID-zero stance raises the risks of future lockdowns which will definitely affect auto manufacturing and be a big negative for the global automotive market. Notably, a recent September 15, 2022 South China Morning Post article quoted the "vice administrator of the National Administration of Disease Control and Prevention" in China saying that the country's "Covid-19 prevention and control measures are the most economical and the most efficient." As such, it won't be realistic to expect a major change in China's COVID-zero approach anytime soon, and it is necessary to keep an eye on the potential downside risks for Astemo in that regard.

Medium-Term Growth Expectations

According to the sell-side's consensus financial estimates sourced from S&P Capital IQ, the analysts expect Hitachi's EBIT to grow by a decent +10% CAGR from JPY739 billion in FY 2022 to JPY991 billion in FY 2025.

In my view, the market's consensus operating income growth expectations for Hitachi in the intermediate term are realistic. The positive outlook of GlobalLogic, a company that Hitachi acquired last year, and Hitachi's plans to sell the stakes in some of its listed businesses will be supportive of its mid-term growth as detailed in the next section.

New Growth Engine And Divestment Of Interests In Listed Businesses

In the medium term, I am of the view that faster-than-expected growth for GlobalLogic and capital recycling plans should be the key drivers for Hitachi.

On July 14, 2021, Hitachi issued a media release revealing that it had concluded the deal to buy over GlobalLogic. In the press release, Hitachi described GlobalLogic as a company which "specializes in advanced digital engineering, experience design, and data services" to assist its customers with "the development of new digital products and experiences."

Digital transformation is a global trend, and there is demand for digital transformation services as well. But there are fewer companies focused on providing such digital transformation services in Japan, and this represents an opportunity which Hitachi can exploit with GlobalLogic, its new growth engine.

At its Q1 FY 2022 results briefing, Hitachi emphasized that "although demand in market for DX (or Digital Transformation) is high (in the Japanese market), supply has not been enough." Hitachi also disclosed at the recent quarterly earnings call that the company's goal is to increase the number of employees for GlobalLogic and the digital transformation business to as many as 1,500 people to be in a good position to capitalize on strong demand in this area.

Separately, Hitachi has indicated at its first-quarter investor briefing that it aims to sell its stakes in Hitachi Metals (OTCPK:HMTLY) (OTCPK:HMTLF) [5486:JP] and Hitachi Transport System [9086:JP] by March 31, 2023, at the latest. The funds raised from such sales can help to finance future growth opportunities, by allowing Hitachi to recycle capital from divestments into new businesses boasting faster top-line growth and superior profitability.

Closing Thoughts

Hitachi is a Hold-rated stock. I have a mixed view of the stock, in consideration of the challenges for Astemo, GlobalLogic's growth opportunities, and potential corporate actions.

Thu, 22 Sep 2022 00:46:00 -0500 en text/html Killexams : Hitachi’s data game is going strong No result found, try new keyword!But that is how these conglomerates work, and Hitachi is a classic. Hitachi was founded back in 1910, making electric motors for mining operations. The company has over 900 business units and ... Thu, 29 Sep 2022 23:04:00 -0500 en text/html Killexams : Hitachi's latest batch of potential leadership candidates is 26% foreign

TOKYO -- Foreign nationals now account for 26% of young employees that Japanese industrial group Hitachi has selected as potential candidates for future management positions, compared with just a few names when the program began four years ago.

The 119 employees selected in fiscal 2021, mainly in their 30s and 40s, will be assigned to overseas posts and cross-business projects.

Thu, 13 Oct 2022 17:27:00 -0500 en-GB text/html
Killexams : Skills Gap Threatens to Stall Industrial Digital Transformation for Nearly Half of Companies, Finds New Study from Hitachi Vantara

Competing priorities and skills shortages in IoT, AI/ML data science and robotics undermine potential progress in IT/OT convergence and security

SANTA CLARA, Calif., Sept. 20, 2022 /PRNewswire/ -- Hitachi Vantara, the digital infrastructure, data management and analytics, and digital solutions subsidiary of Hitachi Ltd. (TSE: 6501), today released the findings from a 451 Research report commissioned by Hitachi Vantara that found a lack of digital skills is jeopardizing industries' digital transformation initiatives. The report "Industry 4.0: Maturity of Adoption and Its Impact on Sustainability and ESG"1 surveyed more than 600 IT and OT leaders engaged in Industry 4.0 initiatives across the manufacturing, transportation, and energy and utilities sectors.

The top driver for digital transformation continues to be optimization of business processes and operations, followed closely by reducing risks, innovation/new revenue streams and increasing revenue/cutting costs.

Download a copy of the commissioned 451 Research Report on Industry 4.0

The report provides a broad view of the confidence, concerns, and next steps regarding enterprises actively engaged in digital transformation. Key findings include:

  • While 100% of companies surveyed are engaging in or planning digital transformation projects for their operations or supply chains, more than half of companies said they lacked sufficient skills in key areas. The most critical gaps cited are in data science (42%) defined as artificial intelligence, machine learning and analytics; IoT deployment and development (48%), or robotics deployment and operations (60%).

  • Given the technology skills gap, at least 37% of respondents indicated that they had no plans to implement IoT-led initiatives.

  • Once viewed as a potential barrier to Industry 4.0 and digital transformation initiatives, IT/OT convergence is happening with 95% of respondents saying the two departments collaborate adequately or better for IoT projects.

"Faced with too many priorities and too few people, companies need a focused, sustained approach that derives outcomes as quickly as possible," said Sid Sharma, IoT Practice Leader at Hitachi Vantara. "At Hitachi Vantara, we focus on an outcome-centric approach enabled by our deep industry expertise and experience. Our ready-to-deploy industry-specific templates, data models and automation libraries help us in scaling and accelerating results."

For more information on Hitachi Vantara's IoT Solutions and Services

Digital Transformation Drivers Reveal Competing Priorities

The survey also revealed that companies are facing a plethora of competing digital priorities from business optimization to employee retention to ESG (environmental, social and governance). The top driver for digital transformation continues to be optimization of business processes and operations, followed closely by reducing risks, innovation/new revenue streams and increasing revenue/cutting costs.

"Digital transformation and its potential to create value for society, environment and economies will depend on how fast certain industries can adopt and ready their workforce for the cloud, cybersecurity, 5G, AI/ML and IoT. Companies must be selective about their business' most critical outcomes and appropriately align it with the necessary investments in software, automation and services," added Sharma.

Despite ESG finishing eighth as a company driver, more than 80% of respondents see ESG regulatory requirements as having at least a medium impact on their organization and expect the impact to increase significantly in the next two years.

"While regulation will have some impact, companies indicated that the primary drivers to meet ESG goals are coming from other market and social pressures," as stated in the report by Ian Hughes, Senior Research Analyst for Internet of Things at 451 Research, a part of S&P Global Market Intelligence. "Increased efficiency and sustainability are competitive factors for enterprises. Digital transformation helps make these efficiency improvements, and many of the ESG requirements achieved are almost a bonus."

Confidence In Cybersecurity Increases

The August 2022 report also reveals that more than three-quarters of respondents are confident in their company's skills for IT and OT security, operations, and application development. However, that degree of confidence may be overestimated given the findings of a recent cybersecurity study that suggested nearly four of five IT respondents reported a ransomware attack at their company within the last year and that nearly three quarters (73%) were financially or operationally impacted by these attacks.

Breakdown of Survey Respondents

451 Research surveyed 616 respondents across transportation (35%), energy (33%) and manufacturing (32%). Thirty-five percent of respondents are located in the U.S. and the rest across Canada, UK, France, Germany and Japan. Nearly two-thirds of the respondents are from companies with 500 or more employees and represent a 51-49 percent split between IT and OT organizations.

Additional Resources

Source: 451 Research, part of S&P Global Market Intelligence, Industry 4.0: Maturity of Adoption and Its Impact on Sustainability and ESG, Discover Report, August 2022

Connect With Hitachi Vantara

About Hitachi Vantara

Hitachi Vantara, a wholly-owned subsidiary of Hitachi Ltd., delivers the intelligent data platforms, infrastructure systems, and digital expertise that supports more than 80% of the Fortune 100. To learn how Hitachi Vantara turns businesses from data-rich to data-driven through agile digital processes, products, and experiences, visit

About Hitachi, Ltd.
Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company's consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company's website at

HITACHI is a trademark or registered trademark of Hitachi, Ltd. All other trademarks, service marks, and company names are properties of their respective owners.

Hitachi Vantara Logo (PRNewsfoto/Hitachi Vantara)


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Wed, 05 Oct 2022 05:03:00 -0500 en-US text/html
Killexams : Hitachi Energy Thailand reinforces sustainability strategy

published : 23 Sep 2022 at 00:01

Dr. Worawut Warutmapornsu, Managing Director of Hitachi Energy Thailand Co., Ltd., has revealed the strategy and business plan of Hitachi Energy Thailand to support and accelerate the energy transition towards sustainability.

Following the rebranding of its parent company to Hitachi Energy last year, the next important step is to develop energy for sustainability and carbon-neutrality by 2030. The company aims to take Thailand closer to the goal of carbon neutrality by 2050 and net zero greenhouse gas emissions in 2065 with the help of innovation and technology related to power generation developed by Hitachi Energy. 

Dr. Worawut Waruttamapornsu explained that since the launch of the new entity, the company has developed and launched key solutions to enable the energy transition, as follows: 

EconiQ™’s eco-efficient portfolio delivers superior environmental performance compared to conventional solutions. Its EconiQ™ high-voltage offering is proven to reduce the carbon footprint throughout the total life-cycle significantly. In August atCIGRE 2022, EconiQ™ unveiled the 420-kilovolt (kV) circuit-breaker, part of the energy company’s EconiQ high-voltage portfolio aiming to develop eco-efficient alternative solutions to sulphur hexafluoride

Grid-eXpandTM is a new comprehensive range of modular prefabricated air-insulated and gas-insulated grid connection solutions. They are engineered, assembled, and factory-tested before delivery. They are ready for fast and easy energization on-site, hence significantly reducing the installation time and accelerating the transition to a sustainable energy system.

IdentiQ™ digital twin solutions for direct high-voltage current (HVDC) and power quality portfolio enable cross-team digital collaboration to accelerate project execution and minimise project risks. IdentiQ™ also provides relevant asset information, analytics, and operational data in an intuitive and easy-to-navigate dashboard, which users can customise to match their needs.

Lumada Inspection Insights provided an end-to-end portfolio of digital solutions for inspecting, monitoring and optimising critical assets. Pioneered by Hitachi Energy and Hitachi Vantara, Lumada Inspection Insights enables the automation of asset inspection, supports sustainability goals, improves physical security, and reduces risks.

OceaniQ™'s innovative portfolio addresses the unique challenges of the offshore environment by reducing costs, increasing safety and improving efficiency.

"And to achieve carbon-neutral by 2030, at the factory, we are installing a solar roof on the plant, to be part of helping to reduce the rate of electricity purchase. Moreover, the company's transportation system in industrial estates does not use fossil fuels. This helps to reduce carbon emissions to the atmosphere. Hitachi Energy (Thailand) Limited signed a Carbon Credit agreement with a leading company in Thailand to bring business towards carbon neutrality in the most comprehensive way."

"Hitachi Energy Thailand has officially completed one year. The company recently received an honorary CSR DIW certificate 2022, and it was also recognised as a member of the Climate Action Leading Organization that will participate in driving greenhouse gas emission reduction towards carbon neutrality at the corporate level. This reinforces our commitment to operate our business towards carbon neutrality and develop clean energy for sustainability in Thailand."

Through the Sustainability 2030 strategic plan, the company is addressing the urgency of the global energy transition and has set clear targets in Planet, People, Peace and Partnerships. Hitachi Energy reflects the rapidly evolving energy landscape and the opportunity to create economic, environmental and social value. The brand name enables the business to effectively position its pioneering technologies and services to current and future customers, expanding beyond the grid – opening up a breadth of opportunities in areas such as sustainable mobility and smart life.

Thu, 22 Sep 2022 20:43:00 -0500 en text/html
Killexams : IoT in Construction Market Analysis, Research Study With Autodesk Inc, Hitachi Ltd, Caterpillar Inc

New Jersey, United States, Oct. 10, 2022 /DigitalJournal/ The IoT in Construction Market research report provides all the information related to the industry. It gives the markets outlook by giving authentic data to its client which helps to make essential decisions. It gives an overview of the market which includes its definition, applications and developments, and manufacturing technology. This IoT in Construction market research report tracks all the recent developments and innovations in the market. It gives the data regarding the obstacles while establishing the business and guides to overcome the upcoming challenges and obstacles.

IoT technologies will not only protect employees from risky situations, but they will also be able to detect these situations before or as they occur. Workers can be more proactive about job site challenges and avoid scenarios that could lead to a safety incident and wasted time with real-time IoT data. Currently, the increasing automation in the construction industry represents one of the major factors supporting the growth of the market. In addition to this, conventional concrete curing methods have several limitations, such as difficulties in supervising and controlling the required environmental humidity and temperature conditions.

Get the PDF demo Copy (Including FULL TOC, Graphs, and Tables) of this report @:

Competitive landscape:

This IoT in Construction research report throws light on the major market players thriving in the market; it tracks their business strategies, financial status, and upcoming products.

Some of the Top companies Influencing this Market include:Autodesk Inc, Hitachi Ltd, Caterpillar Inc, Sigfox, Oracle Corporation, CalAmp Corp,

Market Scenario:

Firstly, this IoT in Construction research report introduces the market by providing an overview that includes definitions, applications, product launches, developments, challenges, and regions. The market is forecasted to reveal strong development by driven consumption in various markets. An analysis of the current market designs and other basic characteristics is provided in the IoT in Construction report.

Regional Coverage:

The region-wise coverage of the market is mentioned in the report, mainly focusing on the regions:

  • North America
  • South America
  • Asia and Pacific region
  • Middle East and Africa
  • Europe

Segmentation Analysis of the market

The market is segmented based on the type, product, end users, raw materials, etc. the segmentation helps to deliver a precise explanation of the market

Market Segmentation: By Type

Hardware, Software, Services,

Market Segmentation: By Application

Remote Operations, Safety Management, Fleet Management, Predictive Maintenance, Others,

For Any Query or Customization:

An assessment of the market attractiveness about the competition that new players and products are likely to present to older ones has been provided in the publication. The research report also mentions the innovations, new developments, marketing strategies, branding techniques, and products of the key participants in the global IoT in Construction market. To present a clear vision of the market the competitive landscape has been thoroughly analyzed utilizing the value chain analysis. The opportunities and threats present in the future for the key market players have also been emphasized in the publication.

This report aims to provide:

  • A qualitative and quantitative analysis of the current trends, dynamics, and estimations from 2022 to 2029.
  • The analysis tools such as SWOT analysis and Porter’s five force analysis are utilized, which explain the potency of the buyers and suppliers to make profit-oriented decisions and strengthen their business.
  • The in-depth market segmentation analysis helps identify the prevailing market opportunities.
  • In the end, this IoT in Construction report helps to save you time and money by delivering unbiased information under one roof.

Table of Contents

Global IoT in Construction Market Research Report 2022 – 2029

Chapter 1 IoT in Construction Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global IoT in Construction Market Forecast

Buy Exclusive Report @:

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Roger Smith


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+1 775 237 4157

Mon, 10 Oct 2022 01:44:00 -0500 A2Z Market Research en-US text/html
Killexams : Hitachi Energy expansion in Virginia gets $731,000 in grants © Provided by Washington Examiner

(The Center Square) – A Hitachi Energy expansion project in Halifax County, Virginia will receive at least $731,000 in grants, but could receive more funding, Gov. Glenn Youngkin announced.

The company is investing about $37 million to create a new production line for making larger transformers to support utility and renewable energy markets, according to the governor’s office. The investment will add 26,000 square feet to its facility and is expected to create 165 new jobs.

“Hitachi Energy’s ambitious expansion in Halifax County represents a strong commitment and tremendous vote of confidence in the Commonwealth of Virginia as a great place to do business,” Youngkin said in a statement. “Hitachi Energy has been an important, long-standing employer in Southern Virginia for nearly 50 years, and we are thrilled the company will create additional good-paying jobs in the community.”

The governor approved a $551,500 grant through the Commonwealth’s Opportunity Fund to help Halifax County with the project. Another $220,000 grant from the Virginia Tobacco Region Revitalization Commission will also support the project. The company will also receive support for employee training through the state-funded Virginia Jobs Investment Program.

In addition to those grants, Hitachi is eligible for two more grant programs. This includes the Virginia Enterprise Zone Program, which could reward up to $100,000 to assist with the expansion. It also includes the Port of Virginia Economic and Infrastructure Development Zone Grant Program, which could reward up to $500,000 to help with the expansion. If the company receives the maximum grants through both of these programs, the project could receive more than $1.3 million in total grant funding.

“Hitachi Energy’s decision to reinvest in its Halifax County facility is a testament to Southern Virginia’s skilled manufacturing workforce and integrated transportation network that allows the company to extend its market reach,” Secretary of Commerce and Trade Caren Merrick said in a statement. “We look forward to a continued partnership with this expansion, which further secures the future longevity of Hitachi Energy in the Commonwealth.”

Hitachi employs more than 720 people in Virginia, which includes about 370 workers at the Halifax County facility. The company’s global headquarters is in Switzerland and its North American headquarters is based in Raleigh, North Carolina.


Washington Examiner Videos

Tags: Energy, Virginia, Work, Government Grants

Original Author: Tyler Arnold | The Center Square

Original Location: Hitachi Energy expansion in Virginia gets $731,000 in grants

Sat, 15 Oct 2022 00:46:00 -0500 en-US text/html
Killexams : Hitachi Energy will expand its Virginia power transformer factory to meet soaring US demand

Global sustainable energy giant Hitachi Energy today announced that it will spend more than $37 million to expand and upgrade its power transformer factory in South Boston, Virginia. This is in response to soaring demand for power transformers from utility companies that are scrambling to accommodate the renewable energy boom after the Biden administration passed the Inflation Reduction Act in August.

Hitachi Energy’s South Boston factory manufactures both distribution and power transformers for the US power grid, commercial buildings, and industrial facilities, as well as traction transformers for railway applications use.

Power transformers are static machines used for transforming power from one circuit to another without changing the frequency. They adjust and stabilize the voltage of electricity to ensure an efficient, reliable power supply.

Distribution transformers provide the final voltage transformation in the power distribution system, stepping down the voltage used in the distribution lines to the level used by the customer.

Hitachi Energy will add 26,000 square feet of production space in the factory’s power transformer building to support the manufacturing of larger transformers specifically designed for utility and renewable energy markets.

The South Boston factory, which has been in operation since 1968, is currently around 607,000 square feet in size. Around 450 employees work there, and Hitachi Energy says it’s now actively recruiting more people.

Steve McKinney, senior VP and head of Hitachi Energy’s transformer business in North America, said:

Demand for transformers is growing rapidly and we are continuing to invest in our local footprint here in North America to keep pace.

The company says it will also invest in automated equipment and changes in factory processes to reduce factory cycle times and Excellerate operational performance. Hitachi notes that the process changes are “particularly critical in the face of current supply chain challenges brought on by the pandemic and other factors.”

Hitachi Energy is also leveraging financial support from the Commonwealth of Virginia and Halifax County, where the South Boston factory is located. 

This is why we need good policy, people. The Inflation Reduction Act passed, and the private sector is hopping to it as a result of federal incentives and demand. This means that the long-overdue US grid upgrade is finally kicking off.

That makes ramping up the manufacturing of power transformers sexy in my book, because energy resilience is non-negotiable in the face of geopolitical challenges and climate change.

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Wed, 12 Oct 2022 02:45:00 -0500 en-US text/html
Killexams : Hitachi Energy to create 165 jobs in Halifax County

HALIFAX COUNTY, Va. – Governor Youngkin announced Wednesday that Hitachi Energy will invest $37 million to expand its operation in Halifax County.

Hitachi Energy’s investment will create 165 new jobs. The company will also add 26,000 square feet to its facility for a new production line, specifically supporting utility and renewable energy markets.

“Hitachi Energy’s ambitious expansion in Halifax County represents a strong commitment and tremendous vote of confidence in the Commonwealth of Virginia as a great place to do business,” said Governor Glenn Youngkin. “Hitachi Energy has been an important, long-standing employer in Southern Virginia for nearly 50 years, and we are thrilled the company will create additional good-paying jobs in the community.”

The Virginia Economic Development Partnership worked with Halifax County along with the Halifax County Industrial Development Authority to secure the project. The Virginia Tobacco Region Revitalization Commission also approved a $220,000 grant from the Tobacco Region Opportunity Fund for the investment.

Hitachi Energy employs more than 720 workers across the state, and about 370 in Halifax County.

“Hitachi Energy is an excellent corporate citizen,” said Rick Short, Chairman of the Halifax County Board of Supervisors. “Their decision to expand comes with the full support of Halifax County.”

The energy company is a global technology leader, aimed at advancing a sustainable energy future for all. Its goal is to accelerate the energy transition toward a carbon-neutral future.

Copyright 2022 by WSLS 10 - All rights reserved.

Wed, 12 Oct 2022 13:09:00 -0500 en text/html
Killexams : Why Hitachi Vantara chose Texas for its new cloud application center No result found, try new keyword!In September, Santa Clara-based Hitachi Vantara announced it was opening a new application reliability center in Texas that is expected to add 120 jobs to the region by 2025. But Hitachi Vantara ... Wed, 12 Oct 2022 22:51:00 -0500 text/html HQT-4210 exam dump and training guide direct download
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