Japan’s Panasonic Corp. is investigating the chances to set up an office for collecting lithium-particle (li-particle) battery modules in India.
With India readying its roadmap for transition to electric mobility, leading global manufacturers of lithium-ion batteries are exploring opportunities to first build assembly units, even as they eventually plan large-scale manufacturing of lithium-ion cells in the country.
South Korea’s LG Chem Ltd and Japan’s Toshiba have also formed collaborations for assembling battery packs with Indian companies such as Mahindra and Mahindra (M&M) Ltd.
Indian companies in the battery manufacturing space such as Exide Industries Ltd and Amara Raja Batteries Ltd have also formed joint ventures with foreign companies to start assembling batteries.
Almost all-electric vehicles (EVs) in India run on imported batteries, mostly from China.
Panasonic 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.
As EVs gain prominence in the domestic market, multinational companies in the battery manufacturing space first need to test the potential of the Indian market by gathering modules or battery packs.
Given the changing global energy landscape, India has set up a National Mission on Transformative Mobility and Battery Storage. An inter-ministerial steering panel has additionally been set up which is led by NITI Aayog CEO Amitabh Kant.