A company executive said that Matsushita is exploring opportunities to build lithium-ion battery modules in India. As India prepares to transition to electric vehicles, the world's leading lithium-ion battery manufacturers are exploring opportunities to build assembly units first, even if they eventually plan to manufacture lithium-ion batteries on a large scale in the country.
South Korea's LG Chem Co., Ltd. and Toshiba Corporation of Japan also cooperated with Indian companies such as Mahindra and Mahindra (M&M) to assemble battery packs. Indian companies such as Exide Industries Ltd and Amara Raja Batteries Ltd have also established joint companies in the field of battery manufacturing to start assembling batteries with foreign companies.
Almost all the electric vehicles (EVs) in India use imported battery, mainly from China. Currently, lithium-ion batteries account for 40% of the total cost of Evs, Lithium also has other uses, such as cell phone batteries and solar panels.
With the prominent position of electric vehicles in the domestic market, multinational companies in the field of battery manufacturing hope to test the potential of the Indian market by assembling modules or battery packs firstly.
For example, Panasonic will assemble batteries for two and three rounds EV firstly, because the coalition government wants to drive electrification in these two areas. The Japanese company will also invest in charging stations and telematics platforms for electric tricycles.
“Before entering the manufacturing unit in this country, the logical step we have to take is to look at the assembly of the module. We are considering how to assemble the module in this country.”
Manish Sharma, president and CEO of Panasonic Corporation said.