Panasonic plans car battery plant in India

Japanese electronics giant Panasonic Corp. said it will build a car battery facility in India. The company, which plans to make a full-fledged entry into the country's growing auto market, is looking for a suitable location for the new plant as it targets an operational launch by March 2015, reported The Wall Street Journal.

The lead-acid battery unit will be Panasonic’s third overseas factory after Thailand and China.

Currently, the company imports batteries from its Thailand factory to serve the Indian car market.

But "in a big market (like India), we want to launch local production for the local market," said WSJ quoted Yoshi Yamada, the head of the company's automotive and industrial systems business.

“Some of the batteries to be made at the new factory will also be used for backup power equipment.”