OREANDA-NEWS. Mitsubishi Electric Corporation announced today that Shanghai Mitsubishi Elevator Co., Ltd. (SMEC), an elevator and escalator joint-venture company with Shanghai Electric Group Company Limited in Shanghai, China, surpassed cumulative production of 500,000 units earlier this month.

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.

SMEC produced China's first VVVF-inverter-controlled elevators in 1990. Over the years, it has launched a variety of products equipped with advanced energy-saving features and technology for enhanced riding experiences, such as gearless traction machines using permanent-magnetic motors and variable-speed elevator systems. Through such achievements, Mitsubishi Electric has contributed to the growth and development of China's elevator and escalator industry.

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.

Going forward, Mitsubishi Electric will continue to expand its business in China through delivery of safe, reliable, high-quality and comfortable products incorporating advanced technologies.