Mitsubishi Electric Corporation announced recently that it plans to construct a new factory for Mitsubishi Elevator Korea, Ltd. in the Songdo area of the Incheon Free Economic Zone in South Korea.
KMEC’s development and manufacturing bases will be relocated to the new facility. The move is expected to increase Mitsubishi Electric’s ability to respond to needs for high-speed elevators around the world. The company plans to expand annual production 2.5 times to produce a total of 4,000 elevators per year.
The new facility’s research and development center will absorb some development functions that are currently located at the Inazawa Works, Mitsubishi Electric’s factory in Aichi Prefecture, Japan that produces elevators and escalators. KMEC will be able to more closely collaborate with the Inazawa Works in product development and improve its response to global market needs.
The new facility will place a special emphasis on the integration of sales, engineering, development, manufacturing, installation, and maintenance. KMEC’s product development and verification processes will more fully reflect market needs.
Mitsubishi Electric plans to upgrade its high-speed elevators. It will begin to offer elevators that can travel at speeds of up to 360 meters per minute in the near future.
Producing high-speed elevators in South Korea will help Mitsubishi in terms of price competitiveness. KMEC will be better able to supply global markets, particularly in the ASEAN and Middle Eastern regions, as well as in other locations.
The new factory will increase production of NexPia series elevators that were designed for South Korean low-rise buildings. The demand for new elevators and escalators is expected to reach about 24,000 units in the fiscal year that ends in March.