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Indian Oil Corp, Panasonic forge partnership for Li-ion battery manufacturing
Industry News- Jan 23,24
The Indian government has taken steps to promote battery manufacturing by approving the PLI Scheme 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage,' with a budgetary outlay of Rs 18,100 crore.
Indian Oil Corporation and Panasonic India have entered into a Memorandum of Understanding (MoU) to explore the potential establishment of a joint venture dedicated to advanced cell manufacturing for Lithium-ion batteries.
The signing ceremony took place in the presence of Union Minister Hardeep Singh Puri, Amitabh Kant (Secretary, Ministry of Petroleum and Natural Gas, Government of India), Pankaj Jain (Chairman, IOCL), SM Vaidya (President, Panasonic India), Daizo Ito, and senior officers from both companies.
Minister Hardeep Singh, in a recent post, emphasised the significance of developing a domestic battery manufacturing ecosystem in line with India's ambitious goals for renewable energy and electric mobility, under the visionary leadership of Prime Minister Narendra Modi.
Highlighting the substantial contribution of India's automobile sector to the GDP and exports, Minister Singh pointed out that the sector generates around 37 million employment opportunities. He stressed the critical role of battery manufacturing in India to facilitate a smooth transition to electric mobility.
The Indian government has taken steps to promote battery manufacturing by approving the PLI Scheme 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage,' with a budgetary outlay of Rs 18,100 crore. The program aims to achieve a 30 GWh capacity, accelerating electric vehicle adoption and resulting in net savings of Rs 2,00,000 crore to Rs 2,50,000 crore, attributed to a reduction in the oil import bill during the program period.
Source: Psu Connect
Indian Oil Corporation
Panasonic India
Hardeep Singh Puri
Narendra Modi
PLI Scheme
National Programme on Advanced Chemistry Cell
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