Panasonic Group has partnered with Indian Oil Corporation Ltd (IOCL), to establish a new entity dedicated to lithium-ion battery production in India. This collaboration, announced by Panasonic Energy Co Ltd, a subsidiary of the Japanese technology giant, follows the signing of a preliminary agreement that marks the beginning of negotiations with IOCL to define the structure of this joint venture.
The objective of this alliance is to meet the growing demand in India for these batteries, which are essential for both two- and three-wheelers. two- and three-wheeled vehicles and energy storage systems.
Alliance for the manufacture of lithium-ion batteries
The choice of lithium-ion cylindrical batteries is due to their wide application in electronic devices, hand tools and electric vehicles. electric vehicles areas in which Panasonic Energy has already proven to be a leading supplier. Both corporations are currently evaluating how battery technology can contribute to India’s transition to cleaner and more sustainable energy sources.
With plans to finalize their partnership before next summer, the companies seek to advance their environmental and commercial goals. State-controlled IOCL has committed to achieving a net zero carbon balance by 2046, in line with India’s national target of achieving carbon neutrality by 2070.
This partnership not only aims to address environmental challenges such as reducingCO2 emissions, but also aims to consolidate a complete supply chain ecosystem that strengthens India’s energy autonomy and its position in the global energy arena. In addition, it is expected to boost the local battery industry through technological development and the creation of demand for raw materials and new players in the market.
Panasonic Energy and battery development
Panasonic Energy founded in April 2022, is committed to sustainable development through its expertise in battery manufacturing and development. Offering a range of solutions including lithium-ion batteries for vehicles, energy storage systems and dry batteries, the company seeks to positively impact diverse sectors, from mobility and social infrastructure to healthcare and consumer goods.
This joint venture between Panasonic and IOCL stands out for its potential to advance electrification and sustainability in India and for the message it sends to the global market about the importance of strategic alliances between traditionally opposing sectors, such as oil and technology, to combat climate change and promote sustainable development. clean energy .
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Source: economictimes.indiatimes.com
Photo: shutterstock
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