Mitsubishi Electric

Mitsubishi Electric Corporation on Tuesday said it will invest about Rs 220 crore (3.1 billion yen) in its Indian subsidiary to set up a new factory in Maharashtra. The new factory will be set up near Pune in Maharashtra. Its subsidiary Mitsubishi Electric India will manufacture inverters and other factory automation (FA) control system products, said a statement from the Japanese manufacturer of electrical and electronic products. The factory is expected to start operations in December 2023 and would expand the company's capabilities to meet the growing demand in India, it added. "The rapidly growing Indian market is expanding at an annual rate of about 8 per cent mainly in industries such as automobiles, food & beverage, pharmaceuticals, data centres, and textiles, with further market expansion expected in the future," it said. The new two-floor, 15,400 square-metre factory will be built on 40,000 square metres of land near Pune. "....(it) will help expand Mitsubishi Electric's

Japan's economy and trade minister, Hiroshi Kajiyama, said earlier that the government would act if it found that Mitsubishi had broken any laws or regulations.

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Mitsubishi Electric introduces new power semi-conductor module for motor drive applications in hybrid vehicles and EVs

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The firm is targeting an annual revenue of Rs 1,097 crore