The new company, Mitsubishi Electric GEM Power Device (Hefei) Co., Ltd., will begin operating in January 2012 and is expected to double Mitsubishi Electric’s current production capacity in China for consumer and industrial power modules by December 2015. Located in the Hefei Economic & Technological Development Area of Anhui Province, the company plans to expand its workforce to about 800 by the end of 2015.
In line with worldwide efforts to save energy, the proliferation of inverter-equipped air conditioners and other home appliances, industrial machinery, solar power and wind power generation systems, trains and electric and hybrid electric vehicles is spurring the global demand for power modules.
Ownership will be shared by Mitsubishi Electric Corporation (70%), GEM Electronics (Shanghai) Co., Ltd. (20%) and Mitsubishi Electric (China) Co., Ltd. (10%). The company will start with paid-in capital of 5 million USD (approximately 425 million JPY).
With 90 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in the manufacture, 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. The company recorded consolidated group sales of 3,645.3 billion yen (US$ 43.9 billion) in the fiscal year ended March 31, 2011.