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Mitsubishi Electric to Establish New Factory in India for Factory Automation Control System Products
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Rhea-AI Summary
Mitsubishi Electric Corporation announced an investment of approximately 2.2 billion Indian rupees (or 3.1 billion yen) to establish a new factory in India. The factory, expected to start operations in December 2023, will produce inverters and factory automation control systems to meet rising demand in the Indian market, which is growing at an annual rate of 8%. The investment aims to enhance the company’s production capacity in this rapidly expanding market.
Positive
Investment of 2.2 billion Indian rupees to enhance production capacity.
New factory operations set to begin in December 2023.
Targeting rapidly growing Indian market, expanding at 8% per year.
Negative
None.
Increases production capacity in India to meet growing demand in local market
TOKYO--(BUSINESS WIRE)--
Mitsubishi Electric Corporation (TOKYO:6503) announced today that it will invest approximately 2.2 billion Indian rupees, or 3.1 billion yen, in its subsidiary Mitsubishi Electric India Pvt. Ltd. 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 rapidly growing Indian market is expanding at an annual rate of about 8% mainly in industries such as automobiles, food & beverage, pharmaceuticals, data centers, and textiles, with further market expansion expected in the future.
What is Mitsubishi Electric's recent investment in India for?
Mitsubishi Electric is investing approximately 2.2 billion Indian rupees to establish a new factory in India, focusing on manufacturing inverters and factory automation products.
When will the new Mitsubishi Electric factory in India start operations?
The new Mitsubishi Electric factory in India is expected to start operations in December 2023.
What market is Mitsubishi Electric targeting with its new factory in India?
Mitsubishi Electric is targeting the growing Indian market, which is expanding at an annual rate of about 8%, particularly in sectors like automobiles, pharmaceuticals, and textiles.
How much is Mitsubishi Electric investing in its Indian subsidiary?
Mitsubishi Electric is investing approximately 2.2 billion Indian rupees, equivalent to about 3.1 billion yen.
