Panasonic to set up manufacturing unit in AP, begin production from 2021.
December 27, 2019
Panasonic Corporation recently announced plans to expand in India by setting up a manufacturing unit in Sri City Industrial Park of Andhra Pradesh. Pegged at Rs. 294.6 crore, the unit will make electrical devices, wires, and switchgear under Life Solutions Company, an arm of Panasonic Life Solutions India Private Limited.
The manufacturing unit will be the fourth such Panasonic facility in the country and is scheduled to begin production in Autumn 2021. Providing jobs to 600 people, it aims to tap the electrical market at atime when demand is growing in India, especially in mid-size cities.
Panasonic said that the company decided to build the new facility because the demand for electrical equipment such as switches, sockets, and switchgear was rising due to increasing construction of office spaces, condominiums, and housing.
After commencing operations in 2021 with the production of wiring devices, Pansonic will further expand the production of fans, switchgear and electrical wires in line the with a target of producing 8.6 million units every month.
While the company already has production centres in Haridwar in the north and Daman and Kutch in the west, the new unit will be it’s first in South India, giving it greater access to the region.