Japanese conglomerate Panasonic is preparing to open a battery manufacturing plant in India, following India’s Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing. This aims to place India as a global leader in electronics manufacturing and design, especially in the development of core components.
India’s battery manufacturing
Panasonic is a multi-appliance brand originally specialising in light bulb sockets. The company now offers a range of appliances such as rechargeable batteries, cameras and industrial systems. First founded in 1918 and now headquartered in Kadoma, Osaka, Japan, Panasonic has an average of US$59bn in annual sales.
India is home to a diverse and thriving manufacturing sector, with several major companies operating in various industries. Mega-manufacturer Adani Group has a variety of diverse operations, from energy to infrastructure. Mahindra Group works in many sectors including automobiles and aerospace. The automotive division, Mahindra & Mahindra, is one of India's largest automobile manufacturers.
Indian representatives Sherpa Amitabh Kant, Niti Aayog CEO, and Kamran Rizvi, Heavy Industries secretary, met with senior members of the Panasonic team including Kazuo Tadanobu, Global President and CEO of Panasonic Energy and Manish Sharma, Panasonic Life Solutions Chairman for India. Panasonic is optimistic that the Indian government will approve of its plans to expand its battery manufacturing in the country.
Manufacturing increase in India
Indian Prime Minister Narendra Modi recently embarked on a state visit to the USA, where he and Tesla CEO Elon Musk discussed investment opportunities in EVs and commercial space exploration. Musk said that depending on timing, factories for the EV brand will be in India "as soon as humanly possible".
"[Mr Modi] really cares about India because he's pushing [Tesla] to make significant investments in India, which is something we intend to do,” Musk said.
"They are very seriously looking at India as a production and innovation base," confirmed Rajeev Chandrasekhar, India’s Minister of State at Ministry of Electronics and IT.
Other magazines that may be of interest - Healthcare Digital.
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