Core Viewpoint - Mitsubishi Electric Corp. is planning to sell its automotive equipment business, with potential bids expected to exceed $1.3 billion [1][2]. Group 1: Sale Details - The company intends to solicit bids for its automotive unit, accepting first-round proposals until January 26 from potential buyers, which may include private equity firms and major automotive suppliers [1]. - The estimated value of the sale is over $1.3 billion, indicating significant interest in the automotive equipment sector [1]. Group 2: Market Conditions - Analysts highlight a slowdown in electric vehicle sales, particularly in the US, and competitive pressures in key markets like China, which are impacting profitability for parts suppliers, including Mitsubishi Electric's auto division that specializes in inverters and automotive motors [2]. - Mitsubishi Electric has been actively seeking to restructure its automotive equipment business in response to these challenging market conditions [2].