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Panasonic eyes 'strategic' Indian market as New Delhi pushes green energy

TOKYO -- Panasonic Energy said it is considering entering the Indian market for batteries used in motorcycles and energy storage, as New Delhi plans to bolster local manufacturing of related industries.

The major EV battery maker on Monday said it was in talks with India's top refiner, Indian Oil, to set up a joint venture to manufacture cylindrical lithium-ion batteries for two- and three-wheeled vehicles, and for energy storage systems. The Osaka-based company did not elaborate on the specifics of the project, but it and Indian Oil aim to come to a final agreement by summer.