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Hitachi to Invest $2.8 Billion in Internet-Connected Projects

  • Silicon Valley-based team on the hunt for corporate partners
  • Hitachi plans new tie-ups for its Lumada platform this year
Visitors view the interior of a Hitachi AT300 Class 800 series railway train at Hitachi Rail Europe Ltd.'s rail vehicle manufacturing facility in Newton Aycliffe, U.K., on Thursday, Sept. 3, 2015. The factory will produce Intercity Express Programme (IEP) trains for the East Coast Main Line and the Great Western Main Line.
Photographer: Luke MacGregor/Bloomberg
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Hitachi Ltd. plans to invest about $2.8 billion over the next three years in its Internet of Things platform as the Japanese maker of power plants, bullet trains and elevators bets the technology will drive sales.

The money will be used for acquisitions, research and development and capital spending, Keiji Kojima, head of the services and platforms unit, said in an interview in Tokyo on Monday. The division will receive 100 billion yen ($918 million) of the investment, he said.