Mitsubishi Electric Corporation (TOKYO:6503) announced today that it will launch the NEXIEZ-GPX, a new line of NEXIEZ-series elevator for Central and South America on November 1. The new line features load capacities of 450 – 700 kilograms and speeds of 1.0 – 1.75 meters per second. It is specially designed for low- to midrise residences and offices in Latin America, where the company hopes to expand its business and sell 800 units in 2013.

The NEXIEZ-GPX line features new designs matched to carefully researched preferences and requirements in Latin America. Local manufacturing will help to ensure competitiveness in terms of both cost and delivery.

The demand for elevators is rising worldwide in line with increasing construction, particularly in emerging markets, and diversifying to reflect regional needs. Demand in Latin America emphasizes safe and competitively priced elevators for low- to midrise buildings.

Main Features

Localized specifications and designs for Latin America

• Customized specifications and functions for low- and midrise buildings
• Four types of ceiling designs to match regionally popular building designs and colors
• Stylishly designed ceilings to create depth and LED down lighting for enhanced ambience

Reduced cost and delivery

• Local production and engineering, and improved logistics, help to reduce costs and delivery times

Energy saving

• LED down light reduces power consumption by 88% compared to conventional incandescent lighting
• Permanent magnetic gearless traction machine reduces power consumption by 20% compared to worm-geared traction machine with inverter control

###

Distributed in English and Japanese on October 24, 2012.

About Mitsubishi Electric

With over 90 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Embracing the spirit of its corporate statement, Changes for the Better, and its environmental statement, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company, enriching society with technology. The company recorded consolidated group sales of 3,639.4 billion yen (US$ 44.4 billion*) in the fiscal year ended March 31, 2012. For more information visit http://www.MitsubishiElectric.com

*At an exchange rate of 82 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2012