Mitsubishi Electric To Establish New Factory In India
The company will invest INR 2.2 billion in its new factory to Increases production capacity in India and meet growing demand in local market
Mitsubishi Electric Corporation announced it will invest approximately INR 2.2 billion in its subsidiary Mitsubishi Electric India to establish a new factory in India.
Expected to start operations in December 2023, the new factory will manufacture inverters and other factory automation (FA) control system products, expanding the company's capabilities to meet the growing demand in India.
The Indian market is expanding at an annual rate of about 8 per cent mainly in industries such as automobiles, food and beverage, pharmaceuticals, data centers and textiles, with further market expansion expected in the future.
"The new two-floor, 15,400 square-meter factory will be built on 40,000 square meters of land near Pune, Maharashtra, and will help expand Mitsubishi Electric's production capabilities to meet local demand for products and also contribute to the Make in India initiative promoted by the Indian government. In addition, the new factory will incorporate various features aiming to achieve carbon neutrality by reducing carbon dioxide emissions through the use of highly efficient air conditioning systems and LED lighting equipment and meet sustainable development goals (SDGs) by reusing wastewater through underground filtration treatment and greening," the company said in a statement.
Mitsubishi Electric's FA control systems business in India began in the mid-1990s. The company acquired a local manufacturer of FA control systems in 2012 and since then the company has continued to strengthen its local business structure by establishing a local engineering team, expanding service and support capabilities and in 2013 it started local manufacturing of products.