LGES, Panasonic Energy rev up India battery plant plans
Panasonic Energy—are stepping on the gas to fast track their plans to establish manufacturing facilities in India, multiple people aware of the developments told ET.
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LG Energy Solution (LGES), which supplies EV batteries to Tesla, General Motors, Hyundai and e-scooter makers like Ola Electric and TVS Motor, has narrowed down its search to three states—Tamil Nadu, Telangana and Andhra Pradesh, sources said.
Panasonic Energy, which is among Tesla’s largest supplier of batteries, is evaluating four states—Telangana, Tamil Nadu, Maharashtra and Karnataka, some people cited above said.
LG Energy is set to do a field visit to a 100-acre plot of land in Manallur near Chennai in Tamil Nadu after the Pongal that concludes on Friday, one of the persons cited above said. “They want to start slow and then scale up slowly,” the person said. “Tamil Nadu’s advantage is that it has a robust auto ecosystem which can be a clincher.”
LGES said it did not have specific plans for India for the moment. “However, we are exploring various potential business options and monitoring (the) market situation closely,” it said in a statement.
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