TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it will invest approximately 2.2 billion Indian rupees, or 3.1 billion yen, in its subsidiary Mitsubishi Electric India Pvt. Ltd. to establish a new factory in India. Expected to start operations in December 2023, the new factory will manufacture inverters and other factory automation (FA) 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.
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