- Panasonic will initially assemble batteries for two and three-wheelers
- Consideration is going on about how to assemble the modules in India
- They will also invest in charging stations and telematics platforms for electric tricycles
Panasonic Corporation of Japan is exploring opportunities to establish lithium-ion (lithium-ion) battery pack facilities in India, said a top company executive to The Mint.
Panasonic will initially assemble batteries for two and three-wheelers because the Union Government wants to drive the electrification of these two areas. The Japanese company will also invest in charging stations and telematics platforms for electric tricycles.
Manish Sharma, president and chief executive officer (CEO), Panasonic Corp told the English Daily that before entering the manufacturing unit of the country, the logical step Panasonic intends to take is to look at the assembly of the module. He further commented that the consideration is going on about how to assemble the modules in India.
Sharma said the company has not yet completed its plan, but once the company decides to assemble modules in India, lithium-ion batteries will be imported from factories in Japan or China.
Competition from other players
Toshiba Corp. and Denso Corp. have already formed a joint venture with Suzuki Motor Co. to invest around ₹1,100 crore in setting up a manufacturing facility for lithium-ion batteries in Gujarat. It will initially produce batteries for hybrid vehicles and later for EVs. South Korea’s largest battery manufacturer LG Chem has joined hands with M&M to assemble battery packs in a factory at Chakan, Maharashtra.
With the prominent position of electric vehicles in the domestic market, multinational companies in the field of battery manufacturing first hope to test the potential of the Indian market by assembling modules or battery packs.