Mitsubishi Electric is working to open an elevator plant near Bengaluru in 2016. It intends to quintuple shipment volume by taking advantage of lower costs and shorter lead times.
The company plans to invest around Rs 180 crore. It will have an annual production capacity of 5,000 units. The site will be spread across 89,000 sq mtr of land with floor space of 26,400 sq mtr. The product development will be reinforced with an elevator test tower, about 41 mtr high, and field training centre for installation and maintenance work on the premises of the new factory.