Panasonic and Indian Oil Planning Battery Joint Venture

Panasonic Energy and Indian Oil have entered into talks for the establishment of a joint venture for the production of cylindrical lithium-ion batteries in India. According to the companies, the aim is to meet the growing demand for batteries for two- and three-wheelers as well as energy storage systems in the Indian market.

Feasibility study for potential applications

As part of the potential collaboration, a feasibility study will be conducted to explore the potential applications of battery technologies for Indiaʼs energy transition. The details of the joint activities are expected to be finalized by the summer of 2024. IndianOil is Indiaʼs largest state-owned oil company and committed to achieving net-zero emissions by 2046. The collaboration with Panasonic Energy is intended to help reduce carbon emissions and increase Indiaʼs self-sufficiency by creating a complete supply chain ecosystem.

Source:
https://news.panasonic.com/uploads/tmg_block_page_image/file/23382/en240401-5-1.pdf

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