New Delhi, Apr 21 (PTI) Panasonic Life Solutions India on Thursday announced the opening of its new facility in Sri City, Andhra Pradesh where it would manufacture wiring devices.
This is the first electrical equipment manufacturing base of the company in southern India and seventh in the country, said Panasonic Life Solutions India in a statement, a wholly-owned subsidiary of Panasonic Corporation.
“The company will be making a total investment of Rs 600 crore in two phases, the first phase of Rs 300 crore has been made,” it added.
The Sri City facility is fully operational and will primarily focus on manufacturing wiring devices products covering Roma, Penta Modular, and Roma Urban.
“India is on a growth trajectory and this growth will need tremendous support from the ECM (electrical construction material) industry for people to “Live their Best”.
“We see this as a tremendous opportunity for making human life simpler, safer, and comfortable, by enhancing the consumer experience through our technologically advanced products, with Japanese standards, which will now be manufactured at this facility in India,” Kawamoto, Business Unit Head – Power Component Business, Panasonic Corporation, Japan said.
The company intends to add other products from the wiring devices and include switchgear, wires, and indoor air quality (IAQ) products over a period.
Currently, the production capacity in the first year is 80 million units, and it is expected to increase by 15 per cent year by year as sales further expand. PTI KRH KRH AJ AJ
