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. [Read more…] about Mitsubishi Electric to build new factory in India