A wholly owned subsidiary of Panasonic Corporation Panasonic Life Solutions India announced the opening of its new manufacturing facility in Sri City, Andhra Pradesh. The facility aims to develop market synergies by providing swift material deliveries and customer delight. The factory also aims to produce more than 200 mil pieces of switches per year in the next 5 years.
The ‘highly automated’ unit is spread over 133,584 sq.mt and currently covers a floor area of 37,025 sq.mt. This will be the company’s first electrical equipment manufacturing base in Southern India and seventh in India followed by facilities in the North and West regions. The company will be making a total investment of INR 600Cr in two phases and the first phase of INR 300Cr has been made.
It will contribute to the company’s larger goal of increasing capacity expansion in India and carbon neutrality by 2030 to deliver on the promise of a carbon-neutral future. It is fully operational and will primarily focus on manufacturing Wiring Devices products covering Roma, Penta Modular and Roma Urban. The production capacity in the first year is 80 million units and it is expected to increase by 15% year by year as sales further expand. It is expected to create direct and indirect employment opportunities by developing a local supplier network only for Wiring Devices products by FY2025.
The Managing Director of Panasonic Life Solutions India Pvt. Ltd. Mr. Kazuki Yao said, “We plan to invest in building consumer connections, enhancing the industrial connect and improving its visibility on the production front.”