Indian Oil, Panasonic Energy sign pact for lithium-ion cell joint venture

Daily Current Affairs / Indian Oil, Panasonic Energy sign pact for lithium-ion cell joint venture

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Category : National Published on: April 04 2024

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Indian Oil Corporation and Panasonic Group company Panasonic Energy Company have signed a binding term sheet to outline their proposed joint venture (JV) to manufacture cylindrical lithium-ion cells in India.
The collaboration will encourage the process of lithium-ion cell production in India, thereby accelerating energy harvesting and the development of electric vehicles.
The inauguration of the IOC-Panasonic Energy joint venture will help IOC leverage the latest technology for sustainable energy solutions in partnership with the country.
This partnership will help India in significant efforts towards changing its energy message and reducing carbon pollution.