Mitsubishi Electric Corporation, a leader in electrical and electronic equipment, is set to build an elevator factory in Bangalore, India.

The factory, which will be operational in July next year, aims at strengthening the local competitiveness and expand business in the world’s second largest market for elevators and escalators, said a statement.

India’s elevator and escalator market, which has grown in step with the country’s rapid economic development, is now the world’s second largest, next to China.

The annual demand rose to 47,000 units last year and is expected to continue growing.

In 1995, Mitsubishi Electric began selling elevators through local distributors, while in August 2012, it established a company in Chennai to reinforce sales, installations and maintenance, and in April last year, Mitsubishi Electric launched the Nexiez-Lite elevator model for low- to mid-rise buildings in the India’s market.

Bangalore is located in southern India, where an increasing number of enterprises in fields including the IT industry are setting up operations.

By producing locally, Mitsubishi Electric expects to strengthen product competitiveness in terms of price and delivery time, focusing especially on its Nexiez-Lite model.

The product development will be reinforced with an elevator test tower, about 41 meters high, and field-training centre for installation and maintenance work on the premises of the new factory.

The enhanced education of engineers is expected to further elevate the quality and reliability of products and services, ultimately for increased customer satisfaction. - TradeArabia News Service