Mitsubishi Electric to Invest ₹220 Crore

Mitsubishi Electric Corporation announced on Tuesday that it will invest approximately 220 crore (3.1 billion yen) in its Indian subsidiary to build a new factory near Pune in Maharashtra. According to a statement from the Japanese manufacturer of electrical and electronic products, its subsidiary Mitsubishi Electric India will manufacture inverters and other Factory Automation (FA) control system products.

The factory is set to open in December 2023 and will help the company meet growing demand in India, according to the company.

The company said, "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 centers, and textiles, with further market expansion expected in the future." The new two-story, 15,400-square-metre factory will be constructed on 40,000 square meters of land near Pune.

The company stated, "....(it) 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."

Furthermore, the facility will include a number of features aimed at achieving Carbon Neutrality by lowering Carbon Dioxide Emissions through the use of highly efficient air conditioning systems and LED lighting equipment.