business

Mitsubishi Electric joint venture to develop refrigerators in China

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Mitsubishi Electric Corp has announced the establishment of a joint venture with Hefei Kinghome Electrical Co Ltd to research, develop and design large, advanced refrigerators for increasingly affluent consumers. The new joint venture, Hefei Kinghome Mitsubishi Electric Home Appliances Technology Development Co, will start operating in August.

Mitsubishi Electric said it aims to expand its refrigerator business in China by leveraging its proprietary technologies for energy-saving, high-capacity refrigerators. The joint venture will be positioned as a research and development center to accelerate the development of value-added products meeting specific demands in the Chinese market. The Chinese parent, Hefei Kinghome Electrical, will produce and sell the refrigerators.

Chinese consumers’ growing affluence and various support programs offered by the government are stimulating the demand for higher-capacity and higher-performance refrigerators, including multi-door models, which are expected to start selling briskly in the foreseeable future.

© Business Wire

©2024 GPlusMedia Inc.

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Japan makes the best fridges in the world. Even took one back to NZ. Everyone amazed at the styling, features, quality etc.

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Thanks to Abenomics it makes sense to build even more products in China-goodbye Japanese jobs!

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