Panasonic Energy and Indian Oil joins hands

for Lithium-Ion Battery Manufacturing in India

Panasonic Energy Co., Ltd., and Indian Oil Corporation Limited (IndianOil) are exploring a joint venture to manufacture cylindrical lithium-ion batteries.

The partnership aims to lower battery costs in India, drive R&D, advance cell technology, and meet demand for raw materials, especially for two- and three-wheel vehicles, and the growing energy storage systems market.

The collaboration aims to conduct a comprehensive feasibility study on leveraging battery technology to facilitate India’s transition towards clean energy.

What are the terms of the deal?

Indian Oil, the largest state-owned oil production entity in India, is steadfast in its mission to achieve net-zero carbon emissions by 2046.

IndianOil’s Green Commitment

This aligns with India's goal of achieving net-zero status by 2070. IndianOil has been actively pursuing clean energy alternatives like solar power, biofuels, and hydrogen.

IndianOil’s Green Commitment