top of page

Panasonic Sets Sights on Soaring Indian EV Market

1 Apr 2024

Battery giant Panasonic Energy is revving up for a strategic entry into India's booming electric vehicle (EV) market!

Here's the lowdown:

  • Teaming Up with Top Indian Refiner: Panasonic is in talks with Indian Oil, India's biggest refiner, to create a joint venture.

  • Focus on Two-Wheeler Power: The initial plan is to manufacture cylindrical lithium-ion batteries for motorcycles and scooters, a dominant segment in India.

  • Energy Storage on the Side: The venture will also produce batteries for energy storage systems, supporting India's clean energy goals.

Why India?

  • A Market on the Rise: India's EV market is expected to surge, making it a strategic target for Panasonic's global expansion.

  • Government Push for Green Growth: The Indian government's ambitious net-zero and EV sales targets are fueling market growth.

Beyond Two-Wheelers?

  • While the initial focus is on two-wheelers, Panasonic hasn't ruled out future partnerships for four-wheeler EVs – a potential game-changer.

Panasonic's Power Play:

  • This move could provide Panasonic with much-needed funds for its massive EV battery projects.

  • With an eye on quadrupling production capacity by 2031, India offers a promising avenue for growth.

India's Green Charge:

  • As India strives for a clean energy future, Panasonic's entry could accelerate the development of its domestic EV battery industry.

This collaboration between Panasonic and Indian Oil is a significant development for India's EV ambitions. With a growing market and government support, India is poised to become a major player in the global EV landscape!

bottom of page