Mitsubishi Electric Corporation announced that it will spend Rs 220 crore (3.1 billion yen) in its Indian affiliate to build a new facility in Maharashtra.
The new facility will be built in Maharashtra, near Pune. According to a statement from the Japanese maker of electrical and electronic equipment, its subsidiary Mitsubishi Electric India will manufacture inverters and other factory automation (FA) control system components.
The plant is set to open in December 2023, and it will help the firm satisfy expanding demand in India, according to the company.
“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 centres, and textiles, with further market expansion expected in the future,” it said.
