Panasonic’s New Sri City Facility Part of Larger Investment Plan
Panasonic said it will be making a total investment of INR 600 crores in two phases for development of its Sri City facility. The first phase of INR 300 crores has been completed.
Phase-1 section of the facility is fully operational and will primarily focus on manufacturing wiring devices products like switches, sockets and socket boxes of Roma, Penta Modular and Roma Urban range.
In second phase, the company aims to add other products from the wiring devices range which include Switchgears, Wires and Indoor Air Quality (IAQ) products over a period. Panasonic stated the present production capacity of this facility will be 80 million units in the first year, and will be increased based in sales demand.
Addressing the occasion Mr. Kazuki Yao, Managing Director, Panasonic Life Solutions India Pvt. Ltd. said, “… India being one of the fastest-growing economies in the world is an important market for PLSIND. Through the inauguration of our facility in Sri city, it will help us significantly scale up our productions in India, while contributing to the overall development of the region”.
Mr. Kuzaki Yao further added “We see Andhra Pradesh as a strategic market that has witnessed an exemplar shift in its industrial culture and believe it’s an accurate time to delve into this region“.
Panasonic’s First Manufacturing Unit in Southern India
Panasonic’s Sri City manufacturing facility has an area of over 133,584 m2 and currently covers a floor area of just 37,025 m2.
The company said that it will try to extend benefit to the local communities by developing a local supplier network only for Wiring Devices products by FY-2025, thus creating direct and indirect employment opportunities.
This is the company’s first electrical equipment manufacturing facility in Southern India and seventh in India. Based on the statement og Mr. Rajesh Nandwani, Director and Business Unit Head of Wiring Devices, Panasonic Life Solutions India, the facility has automated assembly line and is using IoT and other Industry 4.0 technologies for enhanced safety and productivity.
Panasonic has expressed its intention to support infrastructure development, and create employment opportunities and industrial development in Andhra Pradesh through this facility.
The company has further mentioned that it will take up measures to achieve its goal of carbon neutrality by 2030.
About Panasonic India: Panasonic Life Solutions India Pvt. Ltd. is a wholly-owned subsidiary of Panasonic Corporation, a Japanese multinational. It was earlier called Anchor Electricals Private Limited, and from 1st April 2019, the legal identity changed to Panasonic Life Solutions. The corporate identity also changed from ‘Anchor by Panasonic’ to ‘Panasonic’. In India, the company has offices in more than 35 cities and has over 10,000 professionals.