Panasonic Corporation of Japan and Minda Industries Ltd. (Uno Minda group) have agreed to
establish a joint venture company to develop, manufacture and sell lead acid
storage batteries in India.
According to a company press release, India has a rapidly
growing market of lead acid storage batteries. The new joint venture company
will address the growing market of lead acid storage batteries for two and four
wheeler vehicles and UPS in India with leveraging knowhow and technology owned
by Panasonic as well as customer bases of both parties.
Panasonic has operating production bases in Japan (Kosai
City, Shizuoka Prefecture), Thailand (Samut Prakarn Province) and the People’s
Republic of China (Shenyang City). While Panasonic aims to expand its overseas
operations of its business through this JV, Uno Minda aims to cater to the
growing need of batteries for its strong customer base.
Yoshio Ito, Senior Managing Director of Panasonic, stated
that his company started the production of lead acid storage batteries in 1937.
“Since then, we have consistently responded to requirements of various
customers and achieved steady progress. We believe our technology over the
years will contribute to development of the industry of lead acid storage
batteries in India through the joint venture company with Uno Minda,” he said.
Nirmal K Minda, CMD, Uno Minda stated that the battery
market in India is experiencing rising demand from various sectors, thereby
providing immense opportunities to manufacturers to grow and operate in the
market lucratively. “Having strong footprint in India and with technical
support of Panasonic, a leading name in the Industry since 1937, we believe Uno
Minda will be able to serve customers in multifarious ways,” he stated.
Panasonic and Uno Minda are aiming to establish the joint
venture company in November, 2014 after obtaining regulatory approvals.
Picture of N K Minda,
Chairman & Managing Director, Uno Minda and Kazuto Nezu, President,
Panasonic Storage Battery Co. Ltd. during the Joint Venture Ceremony
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