MHIET's Indian Subsidiary MVDE Achieves Cumulative Production of 200,000 Industrial-Use, Small Diesel Engines
-- Steady Sales Supported by Highly Durable, High-Quality Product --

· Continues to meet customers’ growing needs and aims to boost sales via its global network.

Tokyo, June 22, 2022 - Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET), a part of Mitsubishi Heavy Industries (MHI) Group, announces that its subsidiary in India, Mitsubishi Heavy Industries-VST Diesel Engines Pvt. Ltd. (MVDE)(Note), has achieved a cumulative production of 200,000 units of industrial-use, small diesel engines. This achievement was made possible by the acknowledgement of the engine's durability in harsh environments and the manufacturing quality originated in Japan, as well as the high demand for engines to be used in industrial applications including agricultural equipment and generators.

MVDE is a subsidiary of MHIET, established in 2007 as a joint venture with V.S.T. Tillers Tractors Ltd. (VTTL), a local agricultural machinery manufacturer. MHIET holds a 96.8% stake in the company, and VTTL 3.2%. MVDE's diesel engines are trusted by OEMs of agricultural machines, generators and other equipment around the world and reached a cumulative production total of 100,000 units in 2018. OEMs in India have been focusing not only on the domestic market, but also Europe and other markets, resulting in a steady increase in the sales of MVDE engines.

Taking advantage of the momentum from reaching this milestone, MHIET and MVDE strengthen the sales, procurement, manufacturing and aftersales service further to respond to the growing demand in the Indian market and other markets by utilizing its global network.

• For more information on MVDE, visit https://www.mhi.com/group/mvde/