IndianOil and Panasonic Energy Co. Ltd signs a binding term sheet
The binding term sheet is signed to draw a framework for formation of a Joint Venture for manufacturing cylindrical lithium-ion cells in India.
New Delhi: IndianOil and Panasonic Energy Co. Ltd., have signed a binding term sheet, in line with the expanding demand for batteries for 2 & 3-wheeler vehicles & energy storage systems in the Indian market.
The binding term sheet is signed to draw a framework for formation of a Joint Venture for manufacturing cylindrical lithium-ion cells in India.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
The term sheet was signed in the presence of Mr. Shrikant Madhav Vaidya, Chairman, IndianOil and Mr. Kazuo Tadanobu, President & CEO, Panasonic Energy Co. Ltd. Both companies will strive to contribute to the growth of the Indian lithium-ion battery industry & accelerate India’s self reliance and clean energy transition.
Read Also : Mukesh Singh Verma gives his resignation as CCO and Principal Officer of Utkarsh Small Finance Bank