Tokyo: Panasonic has received an order for lithium-ion batteries from Indian conglomerate Reliance Group.
Panasonic has already begun shipping the batteries to Reliance, which will use them to run mobile communications base stations.
According to the Japan Times, the order is a boost for Panasonic’s strategy of increasing sales to emerging markets, where the electricity supply is unstable and demand for batteries to backup base stations is growing.
The struggling electronics giant is aiming to increase sales of lithium batteries in emerging markets to the tens of billions of yen as early as fiscal 2015, the report said. It is negotiating similar deals with Indian and Indonesian firms.
Panasonic aims to expand sales in India to about ¥355 billion in fiscal 2015, about three times more than fiscal 2012, the report added.
First Published: Monday, October 14, 2013, 19:50