Panasonic Expands Manufacturing Footprint in India
Panasonic Corporation announced plans to expand manufacturing footprint in India through Panasonic Life Solutions India Pvt., Ltd., the Maharashtra-based manufacturing arm of Panasonic Life Solutions Company. The planned factory will product wiring devices, electrical wire and switchgear with an investment of 2.9 billion Indian rupees (US$41.6 million).
The new factory in Sri City Industrial Park in the southern Indian state of Andhra Pradesh will be Panasonic's fourth electrical equipment material production base in the country, and is scheduled to start production in autumn 2021.
India's expanding economy is seen to increase demand for electrical equipment materials such as switches, sockets and switchgears amid the construction wave of office buildings, condominiums and housing.
The new factory in Sri City will provide the company greater access to this promising area.