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- In today’s CEO Daily: Diane Brady talks to Giuseppe Marino, Group CEO of Hitachi Rail.
- The big story: Trump warns companies after raid on Hyundai in Georgia.
- The markets: Up.
- Plus: All the news and watercooler chat from Fortune.
Good morning. Many CEOs are stepping up to visibly invest in the U.S. right now. Tech leaders were eager to pledge investments at President Trump’s White House dinner last week and I’ve met with a number of global CEOs announcing new commitments to create U.S. jobs.
Of course, it’s more interesting to see actual projects than promises that might not come to pass. Last week, I spoke to Giuseppe Marino, Group CEO of Hitachi Rail, who is in Hagerstown, Maryland, today for the official opening of the London-based manufacturer’s $100 million “lighthouse” digital factory and customer experience center.
It’s a smart bet for a company that’s been shifting its focus from building trains to building systems like advanced signaling and a “digital twin” platform, which railway customers can use to optimize their networks. Hitachi Rail accounted for about 12% of Japanese parent Hitachi’s $66.4 billion in revenue last year and almost 8.5% of its $7.8 billion in adjusted EBITDA. It’s a small but growing player in the U.S. rail industry, relative to competitors like Wabtec, Siemens and Alstom, with a particular strength in urban passenger rail, which is facing pressure on the political front even as freight transport is booming. (The Trump Administration has pulled funding for high-speed rail and mass transit, and of course made it tough for rail manufacturers to import the components they need to build products.)
Still, Marino is optimistic, saying his company sits at the “intersection of energy transition and digital transition” in a period where the value proposition of rail transcends politics.
“The U.S. historically invested more in highway innovation than passenger rail … but I think that’s changing,” says Marino. Among other things, he argues that “rail is essential for sustainable efficiency” and high-speed rail is “revolutionizing Europe.” Adds Marino: “We’re convinced we can bring this technology here.” And, of course, “create American jobs.”As for me, I’m in Park City, Utah, with many of my Fortune colleagues and top tech leaders for Fortune Brainstorm Tech, which you can stream here. I’ll be sharing more from our conversations—on stage and off—later this week.
Contact CEO Daily via Diane Brady at diane.brady@fortune.com
This story was originally featured on Fortune.com
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