Mitsubishi Electric Corporation announced today it will invest approximately four billion yen, or approximately 33 million USD, in its subsidiary Mitsubishi Electric Automotive America, Inc. (MEAA) to expand and newly construct facilities for the increased production of high-efficiency alternators. The move is the latest step in an ongoing expansion of MEAA’s North American market.
The U.S. market is expected to enjoy increased vehicle sales, including surging demand for fuel-efficient vehicles in the face of ever-stringent regulations concerning fuel efficiency.
MEAA began producing high-efficiency alternators at its plant in Mason, Ohio, where the company is headquartered, in 2014. The new additions will increase the production capacity for core parts used in these alternators, enabling MEAA to meet growing demand as it continues to expand its North American market.
About Mitsubishi Electric Corporation
With over 90 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Embracing the spirit of its corporate statement, Changes for the Better, and its environmental statement, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company, enriching society with technology. The company recorded consolidated group sales of 4,054.3 billion yen (US$ 39.3 billion*) in the fiscal year ended March 31, 2014. For more information visit: http://www.MitsubishiElectric.com
*At an exchange rate of 103 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2014
Mitsubishi Electric Corporation
Planning & Administration Department
Automotive Equipment Group
Arisa Mori, +81-3-3218-2810
Public Relations Division