TOKYO -- Mitsubishi Electric will build a new satellite production facility as it pivots from defense to offense in the space business to compete with major Western players and lower-priced startups.The Japanese electronics company will invest roughly 11 billion yen ($99.2 million) to construct the center at its Kamakura Works in Kanagawa Prefecture. The facility, set to debut in October 2019, will boost production capacity to 18 satellites in parallel from 10 currently. It will include a chamber that simulates outer space environments.Mitsubishi Electric can slash costs and build-times with the new site, as well as by expanding the use of internet-connected devices in designing and constructing satellites, the company said."If we cut costs by 30%, we can compete on the world stage," Masamitsu Okamura, executive officer in charge of electronic systems and de facto head of space operations, told reporters Friday.
Is this company related to the same one that was buying with UBS?
It talks about miniature satellites.
SDA Price at posting:
$1.17 Sentiment: Buy Disclosure: Held
