Japan’s Panasonic Corporation is exploring opportunities to set up a facility for assembling lithium-ion (li-ion) battery modules in India.
South Korea’s LG Chem and Japan’s Toshiba Corporation have also formed collaborations for assembling battery packs with Indian companies such as Mahindra and Mahindra (M&M).
Indian companies in the battery manufacturing space such as Exide Industries and Amara Raja Batteries have also formed joint ventures with foreign companies to start assembling batteries.
For instance, Panasonic Corporation will initially assemble batteries for two- and three-wheelers as the Union government wants to push for a shift towards electrification in these two segments. The Japanese company will also invest in setting up charging stations and telematics platform for electric three-wheelers.