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Daily Newsletter

06 December 2023

Daily Newsletter

06 December 2023

New Mitsubishi Electric spin-off named

Paid-in capital totals $68m

Dani Cole December 05 2023

Paid-in capital totals $68m

Mitsubishi Electric Corporation has announced the name of its new automotive equipment subsidiary, Mitsubishi Electric Mobility Corporation.

It has been formed as part of the planned spinoff of Mitsubishi Electric's automotive-equipment business. The name had been undetermined at the time of the announcement.

Mitsubishi Electric Mobility Corporation will focus on the manufacturing, maintenance, repair and sales of other machinery and equipment and electrical and electronic components.

According to Mitsubishi, paid-in capital totals 10 billion yen ($68 million).

APAC leads the Connected Vehicle Technologies market in 2023

Consumer demand for features like connected services, in-car infotainment, and ADAS has accelerated the development of connected vehicle technologies. APAC nations have made significant investments in enhancing their digital infrastructure, including the rollout of 5G networks, to provide dependable and quick communication between vehicles and the surrounding infrastructure.

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Smart parking market expected to grow at a CAGR of 13.2% by 2030

Urbanization and population growth are the major drivers of the smart parking market as they have a significant impact on parking demand, traffic congestion, and the need for efficient urban infrastructure. Smart parking systems assist in optimizing the use of current parking facilities by providing real-time information on available spaces and decreasing the time and effort spent looking for parking.

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