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Siemens, a leading producer of electronics and electrical engineering, continues to be regarded as one of the world’s most innovative companies. In 2012, Siemens launched a new division to manage the company’s global business with cities and infrastructures. Siemens also continued to develop alternatives to nuclear energy, including a combined-cycle gas power plant. Additionally, Siemens’ R&D department produced the first hybrid electric plane, and an electric car — paving the way for Siemens to become a leading producer of electric car components. The past year, however, has not been without challenges. Siemens attributes low profits and declining brand value to customers’ worries over the European debt crisis, pricing pressures in several business units, and a slowdown in China. A challenging economy, however, has caused Siemens to focus on developing new technologies — and meeting tomorrow’s energy needs could pay off big.
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