LG Energy and Panasonic Advance Manufacturing Facility Plans in India

LG Energy Solution and Panasonic Energy are intensifying their initiatives to fast-track plans for establishing manufacturing facilities in India. Reports suggest that LG Energy Solution (LGES), which supplies EV batteries to Tesla, General Motors, Hyundai, and e-scooter companies like Ola Electric and TVS Motor, has concentrated its search in three states: Tamil Nadu, Telangana, and Andhra Pradesh.

Panasonic Energy, a key battery supplier for Tesla, is reportedly evaluating four states—Telangana, Tamil Nadu, Maharashtra, and Karnataka, based on various sources.

After the Pongal festival ends on Friday, LG Energy plans to visit a 100-acre land site in Manallur, near Chennai in Tamil Nadu, according to one of the individuals mentioned above. “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.

Last month, reports indicated that the South Korean company was in discussions with JSW Energy to manufacture batteries for electric vehicles and renewable energy storage in a collaboration that would need over $1.5 billion in investment.