Panasonic is considering building a battery factory in India, targeting Tata Motors and Volkswagen Group

Panasonic may build a battery factory in India, focusing on Tata Motors and Volkswagen Group

【Phoneauto News】Recently, Phoneauto noticed that Panasonic, one of the leading automotive power battery giants, is currently considering building an electric vehicle battery factory in India and seeking development opportunities in the country. Currently, a senior delegation from Panasonic has discussed plans with Indian officials to establish a battery production plant in India. The company is considering building the factory based on the Indian government’s production incentive plan (PLI) for ACC battery storage. It is rumored that Panasonic will supply batteries to Indian automakers such as Mahindra & Mahindra, Tata Motors, and Volkswagen.

Panasonic

Meanwhile, according to the Times of India, Panasonic plans to establish an automotive power battery factory in India, which is expected to be linked to the Indian government’s production incentive plan (PLI) for ACC battery storage. The company has reportedly informed the Indian government of its plans to consider expanding battery manufacturing operations in the country. Panasonic India has temporarily declined to comment on this matter.

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According to the latest data released by research firm SNE Research, the global installed capacity of electric vehicle batteries reached 517.9GWh in 2022, a year-on-year increase of 71.8%. Among them, Panasonic’s power battery installation reached 38GWh, accounting for 7.3% of the global market share, ranking second only to CATL (191.6GWh), LG Energy Solution (70.4GWh), and BYD (71.4GWh). However, compared to 2021, although Panasonic’s power battery installation has increased, its market share has decreased. This means that its installation growth rate temporarily lags behind that of its main competitors.

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