19 March 2013

Mitsubishi Electric Establishes Automotive Equipment Subsidiary in Mexico

Tokyo – 19 March 2013 - Mitsubishi Electric Corporation has established a new Mexican subsidiary, Mitsubishi Electric Automotive de Mexico, S.A. de C.V., to manufacture and sell automotive equipment including alternators and starter motors beginning in October 2014. The new base will better position Mitsubishi Electric to expand its automotive equipment business in the Americas, with the new company aiming annual sales of 30 billion yen in 2017. 

Automobile production has been expanding in Mexico due to recovering automobile sales in the U.S. and increasing sales in Latin America. The new manufacturing and sales company in Mexico will enable Mitsubishi Electric to establish a local supply system for automotive equipment, strengthen price competitiveness and realize an efficient business structure for the expansion of business throughout the Americas. 

Mitsubishi Electric Automotive de Mexico will strengthen business coordination and production in conjunction with Mitsubishi Electric's existing U.S. manufacturing base, Mitsubishi Electric Automotive America, Inc. In addition, the new company will supply products for other markets around the globe by taking advantage of preferential tariff treatment under Mexico's trade agreements. 

Source: Mitsubishi Electric