Mitsubishi Electric Corporation (TOKYO:6503) announced today it plans to invest 6.5 billion yen to expand its wafer production capacity for power devices by approximately 2.5 times that of the previous fiscal year. The expansion, to be conducted in several stages, will be completed by April 2011.
The company will also invest 3.5 billion yen to increase its assembly and testing capacities. With the increased capacity, Mitsubishi Electric will be better positioned to meet the rapidly growing demand for power devices.
Power devices make electricity usage more efficient and help save energy in a wide range of electric equipment controlled by motors and inverters, such as industrial machinery, trains, hybrid or electric vehicles and home appliances. With the strengthening of various environmental policies worldwide, global demand for power devices has soared in response to the increase in inverter-equipped air conditioners, hybrid or electric vehicles and the renewable energy market based on solar and wind power generation systems.