Mitsubishi Heavy Industries Thermal Systems, a division of Mitsubishi Heavy Industries Group, has launched a local subsidiary in India to establish a production base for air conditioners. The new entity, Mitsubishi Heavy Industries-IAPL Air Conditioners Private Limited, is a joint venture with IAPL Group Private Limited, MHI Thermal Systems' distribution partner in India, and commenced operations on January 22.
The Indian air-conditioning market is expected to see significant growth, driven by increasing penetration rates and climate characteristics. Previously, MHI Thermal Systems had been importing and selling air conditioners manufactured in Thailand, in collaboration with IAPL, to build a nationwide sales and service network in India.
This new local production base aims to enhance MHI Thermal Systems' sales network in the rapidly growing Indian market, provide consistent after-sales service, and expand supply to meet rising demand. The establishment is also set to strengthen the company's production system and supply chain. By creating a local supply chain, the company aims to accelerate its business expansion in India.
In line with its 2021 Medium-Term Business Plan, MHI Group has committed to achieving carbon neutrality by 2040 under its MISSION NET ZERO initiative. As part of this effort, MHI Thermal Systems plans to introduce products with low-GWP refrigerants and high energy-saving performance, advancing its business towards achieving this goal.
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