Siemens CEO on Geopolitics, Energy, Electric Aviation

The transcript discusses Siemens' response to the US-China trade war, emphasizing the importance of localization and innovation. Siemens is adapting to geopolitical challenges by focusing on customer needs and maintaining strong positions in medical and industrial automation sectors. The company is also addressing job cuts while hiring in key areas. Siemens' strategy includes splitting its industrial and power businesses to better align with market demands. Additionally, Siemens has pioneered electrification in aviation but chose to collaborate with partners like Rolls Royce to avoid competing with its customers.

What are the two most important markets for Siemens according to the transcript?

• United States and China

• China and India

• Germany and India

• United States and Germany

How does Siemens plan to address geopolitical challenges?

• By cutting costs

• By expanding into new markets

• By localizing innovation and production

• By increasing exports

What is a key strategy for Siemens to counter unilateral trade methods?

• Reducing workforce

• Increasing global exports

• Investing in renewable energy

• Localizing innovation and production

Which sector is NOT mentioned as a major business area for Siemens?

• Automobile manufacturing

• Power generation

• Industrial automation

• Healthcare

Which business area is Siemens a world leader in?

• Aviation

• Industrial automation

• Healthcare

• Power generation

What is Siemens' approach to its aviation electrification business?

• Competing directly with turbine makers

• Expanding the business independently

• Selling the business to Rolls Royce

• Partnering with Airbus for development

Why did Siemens decide to collaborate with partners for aviation electrification?

• To become a competitor in the aviation market

• To focus on healthcare

• To reduce costs

• To avoid competing with their customers