Mitsubishi Electric venture to Mexico

Mitsubishi Electric Corporation announces that it has established a new Mexican subsidiary, Mitsubishi Electric Automotive de Mexico, S.A. de C.V. The new Mexican subsidiary will manufacture and sell automotive equipment including alternators and starter motors beginning in October 2014. With the new base, Mitsubishi Electric aims to expand its automotive equipment business in the Americas, with a goal of annual sales of JPY 30 billion (EUR 244,4 million) in 2017.