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Business News/ Auto News / Mitsubishi Electric to build India plant for $231 million, to create over 2,000 jobs
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Mitsubishi Electric to build India plant for $231 million, to create over 2,000 jobs

In March this year, Mitsubishi Motors Corp said that it plans for hybrid and battery electric vehicles to account for all new car sales by the middle of the next decade.

Mitsubishi Motors Corp plans to roll out 16 new electric and hybrid models over the next five years. (REUTERS)Premium
Mitsubishi Motors Corp plans to roll out 16 new electric and hybrid models over the next five years. (REUTERS)

Japan's Mitsubishi Electric Corp announced to invest 18.91 billion ($231.2 million) to set up a manufacturing facility in the southern state of Tamil Nadu.

In an official statement, Mitsubishi Electric India said that it will employ 2004 people for this project.

The manufacturing facility for room air-conditioners and compressors is expected to come up on a 52 acre land owned by Origins by Mahindra in Peruvoyal village, Gummidipoondi Taluk in neighbouring Thiruvallur district. 

Mitsubishi Electric India said that the facility would create over 2,000 jobs of which 60 per cent would comprise women employees. It will also implement various initiatives for carbon neutrality including minimisation of carbon dioxide emissions through enhanced thermal insulation, use of highly efficient air-conditioning and heated water systems.

Company officials said the commercial production at the facility was expected to begin in October 2025 and the initial capacity of room air-conditioners would be three lakh units and 6.50 lakh for compressors by December 2025.

The manufacturing unit would meet sustainable development goals through measures such as reusing waste water through underground filtration treatment and site greening, the company said.

In March this year, Mitsubishi Motors Corp said that it plans for hybrid and battery electric vehicles to account for all new car sales by the middle of the next decade.

Mitsubishi is a junior partner in an alliance with France's Renault SA and Nissan Motor Co. The company said it will roll out 16 new models over the next five years.

The Japanese automaker, known for its Outlander sport utility vehicle, stuck to a previous goal of having half of its new car sales electrified by fiscal 2030 and on Friday newly pledged to raise that further to 100% by fiscal 2035.

Mitsubishi considers plug-in hybrids (PHEV), hybrid electric vehicles and battery electric vehicles (BEV) as electrified vehicles. Electrified vehicles accounted for about 7% of the company's total new car sales in fiscal 2021.

"Among our existing models, we'll expand the geographical areas where our flagship PHEV Outlander is being offered and build out the sales of the Minicab-MiEV light commercial EV that was relaunched last year," Chief Executive Takao Kato said.

(With inputs from agencies)

 

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Published: 09 May 2023, 02:47 PM IST
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