Mitsubishi Electric to set up 1st air conditioner plant in India

Mitsubishi Electric Corp. said Thursday it will invest 26.7 billion yen ($200 million) to establish its first plant in India to produce room air conditioners in a bid to tap into its increasing population and economic growth. The Japanese company will build a plant with an annual capacity of 300,000 units in Tamil Nadu, southern India, and aims to start production in October 2025. The company will also make 650,000 compressors a year at the plant. The new factory is part of the company's five-year business plan through March 2026, under which Mitsubishi Electric plans to invest some 180 billio...