Panasonic: Panasonic, Indianoil Form Jv For Batteries | Delhi News

Mar31,2024



New Delhi: Japanese electronics, white goods and technology solutions giant Panasonic is setting up a joint venture With state-run Indian Oil (IOC) to manufacture lithium-ion (Li-ion) batteries energy storage systems in India to take advantage of the expected growth in demand as the pace of energy transition in the country increases.
Panasonic said on Sunday that Panasonic will execute the joint venture through its group arm, Panasonic Energy, which has signed a binding agreement with India's largest oil refiner and fuel retailer to complete the framework by “this summer”. Have done.
The joint venture will manufacture cylindrical Li-ion batteries Which has a wide range of applications – from consumer electronics to two-wheelers and three-wheelers – as well as battery storage systems, which are the latest buzz in the renewable energy sector.
The two-wheeler and three-wheeler segment has seen a good growth in the pace of transition, leading to substantial demand for Li-ion batteries. Similarly, battery storage has been identified as a key element in making solar projects a viable source of round-the-clock power.
The joint venture with Panasonic is IndianOil's latest clean energy initiative to meet its 2046 net-zero target.

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