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“Source: IBEF”
Japan’s Panasonic Corp. is investigating chances to set up an office for collecting lithium-particle (li-particle) battery modules in India

With India preparing its guide for progress to electric versatility, leading global producers of lithium-ion batteries are investigating chances to initially fabricate assembly units, even as they in the end plan huge scale manufacturing of lithium-ion cells in the country.

Almost all electric vehicles (EVs) in India keep running on imported batteries, generally from China. At present, a lithium-ion battery represents 40 per cent of the total cost of an EV. Lithium likewise has different uses, for example, in cell phone batteries and solar panels.

As EVs gain prominence in the domestic market, multinational companies in the battery manufacturing space first need to test the potential of the Indian market by gathering modules or battery packs.

Panasonic will initially assemble batteries for two-and three-wheelers as the Union government needs to push for a move towards electrification in these two segments. The Japanese organization will likewise invest into setting up charging stations and telematics platform for electric three-wheelers.

Given the changing global energy landscape, India has set up a National Mission on Transformative Mobility and Battery Storage. An inter-ministerial steering panel has additionally been set up which is led by NITI Aayog CEO Amitabh Kant.