Panasonic to set up a Battery Plant in India under PLI Scheme.

Tesla, BYD and now Panasonic want to Invest in India. Panasonic has informed the Indian government of its plans to consider the country for a battery manufacturing operation.

This news has come after a recent meeting between a high-level delegate from a Japanese company and senior members of the Indian government.

It is expected that Panasonic’s potential plant would serve as a supplier of batteries to prominent Indian companies like Mahindra & Mahindra, Tata Motors, the Volkswagen group, etc.

Panasonic entry into the Indian market hints at its ambition to supply batteries not only to Tesla but also to the growing Indian automobile market.

In March 2022, the Indian Government selected four companies for Rs. 18,100 crore PLI for ACC battery storage.

This may now be passed on to Panasonic if the Indian government reopens the window, but would need to be ratified by the highest level of the government.