Search icon

Indian Oil, Panasonic Partner To Make Lithium Ion Cells

Published on 1 Apr, 2024, 5:23 AM IST
Updated on 6 May, 2024, 10:56 AM IST
ReadTimeIcon
2 min read
Top stories and News
Follow us onfollow-google-news-icon

Share Post

IOCL

The term sheet was signed by Shrikant Vaidya, Chairman, IndianOil and Kazuo Tadanobu, President & CEO, Panasonic Energy Co. Ltd.

Indian Oil Corporation Limited (IOCL) and Panasonic Energy Co. Ltd., a Panasonic Group Company, have signed a binding term sheet to draw a framework for formation of a JV for manufacturing cylindrical lithium-ion cells in India in anticipation of expanding demand for batteries for two-and three-wheeler vehicles and energy storage systems in the Indian market.

This signing of binding term sheet follows soon after the signing of a Heads of Agreement on January 21, 2024 by the two companies. The two companies are engaged in a feasibility study regarding the utilization of battery technology to facilitate the transition to clean energy in India, with the aim of finalizing details in the coming months

In addition to meeting domestic requirements, investments in setting up local manufacturing will set up a complete supply chain.

AckoDriveTag IconTags
Panasonic
Indian Oil corporation Limited
IOCL
Panasonic Energy

RecentTop stories and News

Tesla Model S, Model X Updated Yet Again

Satvik Khare 14 Jun, 2025, 11:59 AM IST

Kia Carens Clavis EV Spotted Testing In India; Launch Soon

Satvik Khare 14 Jun, 2025, 11:56 AM IST

MG ZS EV Gets Discount of Up to ₹4.44 Lakh

Satvik Khare 14 Jun, 2025, 7:45 AM IST

Auto Dealers Stare At Historic Inventory Crisis Worth ₹52,000 Crore

Krishna SinhaChaudhury 13 Jun, 2025, 12:09 PM IST

Looking for a new car?

We promise the best car deals and earliest delivery!

Callback Widget Desktop Icon
Indian Oil, Panasonic Partner To Make Lithium Ion Cells