With India's telecom sector investing heavily in green-energy solutions, Panasonic's local unit has cashed in on the growing demand, generating over $100 million in sales in the last three years supplying lithium-ion battery-based solutions.
The telecommunications sector has become the major growth driver for Panasonic's energy storage drive launched in 2013 in the South Asian country, top company officials said.
"We have been offering lithium-ion battery-based energy solutions in India for the last three years, and have already accumulated over $100 million in revenue from the telecom vertical alone in the country," said Manish Sharma, president and chief executive officer of Panasonic India.