September 24, 2023

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Panasonic to expand EV charging offerings, eyes Rs 500 Cr revenue from solar

Panasonic to expand EV charging

Panasonic to expand EV charging offerings, eyes Rs 500 Cr revenue from solar

A Japan-based Panasonic Corporation’s Indian subsidiary Panasonic Life Solutions shows interest in Rs 500 crore revenues from its solar business in the next 3-4 years. It wants to be a leading rooftop EPC player. It is also looking to expand its electric vehicle charging offerings across the country. 

Panasonic to expand EV charging offerings

Panasonic Life Solutions Joint Managing Director Dinesh Aggarwal said “We entered the solar market in 2014-15 and have established ourselves as a rooftop EPC (engineering, procurement, and construction) solutions provider. We have been successful in executing projects across the country as well as in a few foreign countries.”

As its solar business, the company will sell modules manufactured by its parent company at a facility in Malaysia and also develops solar rooftop projects on a turnkey basis.

For electric vehicles, Aggarwal said, “We are gradually progressing in this area. Last year, we launched the smart EV charging service in India under the platform ‘Nymbus’. The service helps EV users, EV fleet owners, e-commerce and logistics companies to manage their fleet more efficiently and also the utility providers, vehicle, equipment and battery manufacturers to understand the usage patterns and calibrate the products and services accordingly.”

As part of the first phase, the Panasonic has partnered with electric mobility service providers such as SmartE and qQuick. As per the partnership, the Panasonic will deploy the EV charging service to 150 SmartE electric three-wheeler and to 25 qQuick two-wheelers in the Delhi-NCR region.

The company aims to expand the offerings to Bengaluru, Pune, Hyderabad, Chennai and Amaravati in next 3 years and in the next 5 years 25 more cities will be targeted to cater around 1 million vehicles.

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