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General Electric Co. plans to invest about 86 million euros ($118 million) in a nationwide expansion strategy in Germany, a market it considers critical to European sales growth. GE has 7,000 employees in Germany already and will add about 450 people in the next two to three years, said Nani Beccalli-Falco, who oversees the Fairfield, Connecticut-based company’s operations there.

Engineering giant General Electric (GE) has kicked off a global project to improve power electronics systems that manage the conversion of electricity from AC to DC, an area that is set to soaring demand in coming years as global renewable energy capacity increases. The company has plans underway to expand research teams in the US and China, and has recently announced plans to invest €5m in lab facilities at a new centre of electronics in Munich, Germany.

Carlos Haertel, managing director of GE Global Research, said the new lab would initially recruit a 20-strong team of engineers, but could expand to 45 to 50 people over the next few years.