Mitsubishi Elevators and Escalators, a subsidiary of Tokyo-headquartered Mitsubishi Electric, today inaugurated a new plant near Bengaluru.
"The new facility, in Vemgal near Bengaluru, spread across 89,000 square metres, will have a manufacturing capacity of 5,000 units of elevators annually. The first unit is scheduled to be delivered in December 2016," a company statement said.
Mitsubishi Elevator expects to strengthen the product competitiveness in terms of price and cut down delivery time by focusing on elevator model - NEXIEZ-LITE -- for low to mid-rise buildings, it said.
"We strive to achieve our goal of being the No 1 brand in quality through our Quality in Motion policy. We recognise the growth potential of Indian economy and through the launch (of new plant) will directly cater to the emerging elevator market, which is now the world's second largest after China," Mitsubishi Elevator Managing Director Iwao Oda said.
On the launch of new facility, he said, the plant was part of the Make in India initiative and the unit would roll out new series of products. "It will be our 14th manufacturing facility in the world."
Mitsubishi Elevator plans to grow sales volume by strengthening its sales network across the country and by offering more products, it added.