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

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.
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