© mailthepic dreamstime.com Electronics Production | September 13, 2016
Mitsubishi Electric to open new elevator plant in India
Mitsubishi Elevator India Private Limited (IMEC) will start production of elevators at its new factory in Bangalore on September 15.
The company aims to strengthen its product competitiveness in India – which according to the company is the world's second largest market for elevators and escalators, and is targeting annual sales of 5’000 units by the fiscal year ending March 2021. With the establishing of local production facilities IMEC aims to improve product competitiveness through lower prices and faster delivery times. They will focus on the NEXIEZ-LITE elevator model, which is designed for low- to mid-rise buildings, a key market in India. IMEC also plans to integrate manufacturing, installation, sales and maintenance in order to achieve greater efficiency and improve service levels.