Mitsubishi Electric Corporation (TOKYO: 6503) announced on 7th June 2022 that it will invest approximately 3.1 billion yen, or 21.8 million euros, 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
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