TOKYO, November 27, 2015 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that its Indian subsidiary Mitsubishi Electric India Pvt. Ltd. (MEI) has opened a factory for transportation-systems business in Bidadi, near Bengaluru, India. Mitsubishi Electric is targeting transportation-systems annual revenue of US$ 170 million in India by fiscal 2020, in part by strengthening sales and maintenance services for subways and trains to meet the growing global demand for transportation infrastructure.
In the early 1960s, Mitsubishi Electric began providing Indian customers with electrical products for locomotives. Later, the company has expanded into rolling stock equipment business for metro projects since 2000s, and now it provides about 65 percent traction systems of the nation's metro rail networks.
The factory will assemble electrical propulsion equipment for rolling stock under a plan to expand Mitsubishi Electric's transportation-systems business in the Indian market. This is Mitsubishi Electric's third manufacturing facility in India, following plants for automotive equipment and factory automation products in Gurgaon and Pune, respectively.
The factory, which cost around US$ 8 million, is on a site measuring 4,605 square meters. It can produce traction inverters, motors and other electrical equipment for rolling stock in metro systems across the country. The factory also has facilities for equipment maintenance. Initial staffing totals about 50 people.
Makoto Kitai, managing director of MEI, said: "Our factory can produce and supply state-of-the-art electrical propulsion equipment for rolling stock. By setting up this factory in India, we have demonstrated our commitment to invest, foster innovation, enhance skill development, protect intellectual property and build best-in-class manufacturing infrastructure in India, which we call our 'Make in India' initiative."
|Managing Director||Makoto Kitai|
|Head Office||2nd Floor, Tower A & B, DLF Cyber Green, DLF Cyber City, DLF Phase -III,
Gurgaon, Haryana - 122002, India.
|Ownership||Mitsubishi Electric Asia Pte Ltd.: 70%,
Mitsubishi Electric Corporation: 30%
|Paid-in Capital||3.02 billion INR (approx. US$ 48 million)|
|Established||September 21, 2010|
|Business||Development, manufacturing, sales and servicing of factory-automation products
Sales and servicing of air conditioners, visual information systems, and power semiconductors
Manufacturing, sales and servicing of transportation-systems' rolling stock equipment
Note that the releases are accurate at the time of publication but may be subject to change without notice.