Tokyo - 04 December 2014 – The Indian subsidiary of Mitsubishi Electric Corporation will build a factory to produce electrical equipment for rolling stock. Located in the suburbs of Bengaluru, it will produce traction inverters, motors and other electrical equipment for rolling stock, and it will also have equipment-maintenance facilities. Construction is planned to finish in September 2015, followed by the start of production in December that year. The factory is expected to cost around 8 million USD and will initially staff about 50 people.
Takahiro Kikuchi, Executive Officer and Group President of Public Utility Systems of Mitsubishi Electric, said: "The Indian market is growing rapidly, fueled by the country's increasing population and rising demands for eco-friendly mass transportation systems. Several major infrastructure projects are under consideration in India, including some with yen loan, and we plan to support them in an effort to expand our transportation-systems business."
The factory launch is a part of a growth strategy under which Mitsubishi Electric aims to achieve transportation-systems annual revenue of 2.7 billion USD, by 2020.