Page 136 - CW E-Magazine (9-4-2024)

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COLLABORATION
IOC and Panasonic plan jv to make lithium-ion

batteries in India

Japanese electronics giant, Pana-
sonic, is setting up a joint venture with
Indian Oil Corporation (IOC) to manu-
facture lithium-ion (li-ion) batteries
and energy storage systems in India.
Panasonic Energy Co. Ltd., a group
fi rm of the company, has signed a bind-
ing term sheet and initiated discussions
with IOC “to draw a framework for the
formation of a joint venture” to manu-
facture cylindrical lithium-ion batteries,
said a statement.

“This initiative is driven by the transition to clean energy in India, the to meet its 2046 net-zero target. The
anticipated expansion of demand for statement said. company has a venture with Phinergy,
batteries for two- and three-wheel vehi- an Israeli start-up specialising in hybrid
cles and energy storage systems in the The partnership with IOC will lead li-ion and aluminium-air/zinc-air battery
Indian market,” it added. to the growth of India’s battery industry systems. Established in April 2022,
by enhancing cell technology and creat- Panasonic Energy provides battery
Cylindrical lithium-ion batteries ing domestic demand for raw materials technology-based products and solutions.
are commonly used in consumer elec- and new entrants, Panasonic said. The Through its automotive lithium-ion
tronics, power tools and electric vehi- companies are aiming for “fi nalising batteries, storage battery systems
cles. Panasonic Energy is a maker of details of their collaboration by the and dry batteries, the company
automotive lithium-ion batteries. The summer of this year”, it added. provides solutions to a broad range
two companies are engaging in a fea- of business areas, from mobility and
sibility study regarding the utilisation The joint venture with Panasonic social infrastructure to medical and
of battery technology to facilitate the is IOC’s latest clean energy initiative consumer products.
TRADE MEASURE
Sunset review of countervailing duty on saccharin

imports from China

The Directorate General of Trade ducts Ltd. and Blue Jet Healthcare Ltd., a low-calorie substitute for cane sugar.
Remedies (DGTR) in the Commerce two domestic producers. Saccharin is a It also has industrial use, particularly in
and Industry Ministry has initiated an non-nutritive sweetener and considered electroplating brighteners.
anti-dumping probe on imports of sac-
charin from China, and, simultaneously, Nocil to expand rubber chemicals capacity 20%
a sunset review of countervailing
duty on imports of the chemical from The Board of Directors of NOCIL 115-ktpa of rubber chemicals is operat-
China. Ltd. has accorded approval for incur- ing at around 65% capacity utilisation,
ring capital expenditure not exceed- and the proposed capacity addition is
The application seeking anti- ing Rs. 250-crore towards capacity expected to increase installed capacity
dumping probe as well as the Sunset enhancement of its rubber chemicals’ by about 20%. The capex will be fun-
Review was fi led by Swati Petro Pro- plant at Dahej. The existing capacity of ded largely through internal accruals.

136 Chemical Weekly April 9, 2024

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