Mitsubishi Electric says it will invest approximately 3.1 billion yen ($22.3 million) 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 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.
Mitsubishi Electric’s factory automation control systems business in India began in the mid-1990s, and since acquiring a local manufacturer of factory automation control systems in 2012, the company has continued to strengthen its local business structure by establishing a local engineering team, expanding service and support capabilities, and in 2013, starting local manufacturing of products.
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 by reusing wastewater through underground filtration treatment and greening.