Mitsubishi Electric Establishes Automotive Equipment Manufacturing and Sales Company in Mexico

  Mitsubishi Electric Establishes Automotive Equipment Manufacturing and Sales
  Company in Mexico

         Aims to expand automotive equipment business in the Americas

Business Wire

TOKYO -- March 18, 2013

Mitsubishi Electric Corporation (TOKYO:6503) announced today that on March 6
it established a new Mexican subsidiary, Mitsubishi Electric Automotive de
Mexico, S.A. de C.V., to manufacture and sell automotive equipment including
alternators and starter motors beginning in October 2014. The new base will
better position Mitsubishi Electric to expand its automotive equipment
business in the Americas, with the new company aiming annual sales of 30
billion yen in 2017.

Automobile production has been expanding in Mexico due to recovering
automobile sales in the U.S. and increasing sales in Latin America. The new
manufacturing and sales company in Mexico will enable Mitsubishi Electric to
establish a local supply system for automotive equipment, strengthen price
competitiveness and realize an efficient business structure for the expansion
of business throughout the Americas.

Mitsubishi Electric Automotive de Mexico will strengthen business coordination
and production in conjunction with Mitsubishi Electric's existing U.S.
manufacturing base, Mitsubishi Electric Automotive America, Inc. In addition,
the new company will supply products for other markets around the globe by
taking advantage of preferential tariff treatment under Mexico's trade
agreements.


Outline of Mitsubishi Electric Automotive de Mexico, S.A. de C.V.
Location           State of Queretaro, Mexico
Site                Approx.150,000 m^2
Building            One wing with a total floor space of approx. 22,000 m^2
Paid-in capital     Mex$500 million (JPY 3 billion)
                    Mitsubishi Electric Corporation: 95%
Ownership
                    Mitsubishi Electric Automotive America, Inc.: 5%
Registration        March 6, 2013
Operations launch   October 2014
Business            Manufacture and sales of automotive equipment including
                    alternators and starter motors
Workforce          Approx. 600 employees by fiscal year ending March 2017
                    

About Mitsubishi Electric

With over 90 years of experience in providing reliable, high-quality products,
Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in
the manufacturing, 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 3,639.4 billion yen (US$ 44.4 billion*) in the fiscal year ended
March 31, 2012. For more information visit http://www.MitsubishiElectric.com

*At an exchange rate of 82 yen to the US dollar, the rate given by the Tokyo
Foreign Exchange Market on March 31, 2012

Contact:

Mitsubishi Electric Corporation
Customer Inquiries
Automotive Equipment
http://www.MitsubishiElectric.com/bu/automotive/global_network/index.html
or
Media Inquiries
Yurika Fujimoto, +81-3-3218-3380
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
http://www.MitsubishiElectric.com/news/
 
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