United News of Bangladesh

Japanese giant Mitsubishi Corporation (MC) has officially entered Bangladesh's manufacturing landscape by acquiring a 25% strategic equity stake in RANCON Auto Industries Limited (RAIL). The partnership, announced Wednesday night in the capital, represents the largest Japanese Foreign Direct Investment (FDI) to date in Bangladesh’s four-wheeler transport industry, said a press release. The investment transitions the relationship between the two entities from a distribution and assembly agreement to a joint ownership structure. The primary objectives of this alliance include scaling up production capacity, fortifying distribution networks, and enhancing after-sales service for local consumers, with a long-term vision to expand into regional markets. Finance Minister Amir Khosru Mahmud Chowdhury, who attended the event as the chief guest, hailed the agreement as a significant milestone under the current government. “This agreement marks the first major foreign direct investment under the current government, which will send a positive message to international investors,” the Minister said. Established in 2017, RAIL has been a key player in vehicle assembly. In June last year, the company began local production of the Mitsubishi Xpander, which has since become the top-selling family SUV in the country. The strategic infusion of capital and expertise from MC is expected to improve supply chain resilience and modernise sales and marketing functions by leveraging Mitsubishi’s global market access. Romo Rouf Chowdhury, Group Managing Director of RANCON Holdings Limited, described the alliance as a "pivotal" moment for the industry. “This landmark strategic alliance — the first of its kind in the country’s automotive sector — underscores the strength of Bangladesh–Japan trade relations,” he said. He added that the investment would facilitate technology transfer, develop a highly skilled local workforce, and increase government revenue through VAT and taxes. Hiroyuki Egami, Senior Vice President and Division COO of Mitsubishi Corporation, reaffirmed the Japanese firm’s commitment to bringing its extensive global automotive experience to the joint venture. The event was also attended by State Minister for Civil Aviation and Tourism M. Rashiduzzaman Millat and the Japanese Ambassador to Bangladesh, Saida Shinichi. Industry experts anticipate that this partnership will also improve consumer access to affordable vehicle financing and ensure the steady availability of spare parts across a strengthened nationwide network.

Grameenphone has signed a memorandum of understanding (MoU) with Rangs and Rangs Workshop to offer a wide range of benefits at the Mitsubishi Motor showroom and Rangs workshop to GP Star Customers. An agreement signing ceremony was held in the capital Saturday. As per the agreement, Platinum Plus and Platinum GPStar customers will enjoy a special price while buying Mitsubishi brand new cars from Mitsubishi showroom. Also, they can avail of a 15 percent discount on all after-sales service facilities at Rangs workshop and 5 perent on genuine Mitsubishi spare parts. Read more: GP gets permission to sell 78,000 more SIMs Mohammad Sajjad Hasib, chief marketing officer of Grameenphone, said: "This partnership is about co-creating with Mitsubishi to uplift the experience of the customers who have loved us over the last 25 years, making us who we are today and we are happy to have Mitsubishi on board with us." Mohammod Hamdur Rahman Simon, CEO of Rangs and Rangs Workshop, said: "Mitsubishi Motors Bangladesh is leading the way in Bangladesh's brand-new car segment. As a Japanese brand, customers are always at the forefront of our business, and we are continuously trying to provide the best value to them." Read more: GP brings Asia Cup cricket matches live on MyGP "As a part of that continuous effort, we are excited to collaborate with Grameenphone to offer exclusive discounts on our cars and after-sales services."

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI), will establish a Takasago Hydrogen Park, the world’s first center for validation of hydrogen-related technologies, from hydrogen production to power generation. According to a release of the company, the center will be co-located at the gas turbine development and manufacturing facility of MHI’s Takasago Machinery Works in Hyogo Prefecture, to support the commercialization of hydrogen gas turbines using hydrogen as fuel. Read: Power transmission from Payra and Rampal plants to Dhaka to wait for another 7-8 months The Takasago Hydrogen Park will be successively expanded and developed going forward. Mitsubishi Power has already announced its 30% hydrogen co-firing for large frame gas turbines and will use Takasago Hydrogen Park to commercialize small and large frame gas turbines on a path to 100% hydrogen firing starting in 2025. Takasago Hydrogen Park will be located adjacent to the T-Point 2 combined cycle power plant validation facility. Mitsubishi Power is beginning to test and demonstrate operations of technologies including hydrogen production and storage and hydrogen fueling of gas turbines, aiming to commence operations in fiscal year 2023. The hydrogen production facility utilizes a water electrolysis system, and Mitsubishi Power plans to conduct successive testing and verification of other next-generation hydrogen production technologies such as turquoise-hydrogen production by pyrolysis of methane into hydrogen and solid carbon, etc. An integrated system for all aspects of hydrogen-related technologies, from development to demonstration and verification, will be established at the Takasago Machinery Works. Read:Dhaka seeks Delhi's buy-in on trilateral cooperation in hydropower For the combustion chamber, the key component of hydrogen gas turbines, Mitsubishi Power will create a work-flow that includes development at the development center (Research and Innovation Center), design, production of an actual machine at the manufacturing plant, and validation testing at the demonstration facility. Mitsubishi Power's gas turbine development process encompasses verification testing of all elements at the basic design stage, the incorporation of those results in the detailed design, and finally validation using an actual machine. Completing this development cycle within the same plant will allow for quicker and more certain product development and commercialization.

Mitsubishi Power, a major subsidiary of the Japan-based Mitsubishi Heavy Industries (MHI) Group, officially changed its corporate name from Mitsubishi Hitachi Power Systems on Tuesday, said a press release.