Shanghai Mitsubishi Elevator Company Ltd. hit a new milestone earlier this month by surpassing cumulative production of 500,000 units.
Mitsubishi Electric Corporation's SMEC is an elevator and escalator joint venture company with Shanghai Electric Group Company Limited in Shanghai.
China is the world's largest elevator and escalator market with, annual sales of more than 500,000 units, accounting for over 60 percent of the global market. The growth rate is expected to remain moderate as urban development advances from coastal areas to inland cities.
Mitsubishi Electric became the first Japanese company to deliver elevators to China in 1950. Teaming with Shanghai Electric Group in 1986, the company jointly founded SMEC in Shanghai to become the first Japanese company to directly manufacture, sell, install and provide maintenance for elevators and escalators in China.