TOKYO — Several suppliers sell GPS-based navigation systems for cars. But Mitsubishi Electric Corp. also has a laser mapping device that creates high-definition, 3-D street maps for navigation systems. It also makes the satellites that beam down the GPS coordinates, and the antennas sending and receiving the signals.
Its affiliate, Mitsubishi Heavy Industries, builds the rockets that launch those satellites into space.
No range of products better encapsulates Mitsubishi Electric's ambition to be a one-stop shop for integrated, high-tech automotive systems rather than a maker of piecemeal parts.
Its traditional auto business, which accounts for around 13 percent of revenue, still produces alternators, starters and electric power steering. But with the line blurring between cars and electronics, Mitsubishi Electric's new CEO wants to leverage the supplier's strength in everything from semiconductors to communications.
"We have decided to rethink our business models," Takeshi Sugiyama, who took over April 1, said during a February news conference. "To create new growth drivers, we will introduce additional cross-function initiatives."