Mitsubishi Electric Ups Presence in China's Energy-System Market
New firm expected to grow energy-system revenue in China to 30B Yen
Mitsubishi Electric announced that it has established Mitsubishi Electric Power & Electrical Infrastructure Systems (Beijing) Co., Ltd. (MEPIC) in Beijing, China to provide energy-system sales, engineering and related services. The company, which will start operating in December, plans to open branches in Shanghai and Guangzhou.
MEPIC, an offshoot of the energy system division of Mitsubishi Electric & Electronics (Shanghai) Co., Ltd., will operate under Mitsubishi Electric (China) Co., Ltd., Mitsubishi Electric's regional corporate office and investment company in China. It is expected to upgrade Mitsubishi Electric's energy-system business in China with stronger customer sales, increased cooperation with Chinese partners, including exports, expanded repair and maintenance services, and entry into new businesses, such as smart grids. Energy-system revenue is envisioned to rise from 20 billion Yen in 2013 to 30 billion Yen in 2017.
China is forecast to surpass North America with the world's largest power generation capacity by 2020. Demand for power-generation facilities is expected to remain strong, given that it is a top priority both in the current and subsequent five-year plans.