Panasonic India is betting big on the Indian electric vehicle (EV) infrastructure market, with the aim of garnering revenue worth ₹700 crore by 2021 from the segment. Three years from now, we should be targeting revenue of ₹700 crore revenue out of this (the whole market)," Manish Sharma, President & CEO Panasonic India told Mint. Consumer durables company Panasonic India on Wednesday announced its foray into EV charging services in India, with its offering Nymbus. The charging service combines physical components such as charging stations, swap stations, on board charges, telematics systems and the virtual components like cloud service, analytics, intuitive dashboard, and artificial intelligence to deliver one-stop solution, Panasonic said. In the last four-five years, the company has invested ₹50 crore towards development and testing of the EV charging infrastructure, Atul Arya, Panasonic’s Head of Energy Systems Division said.

Source: Mint May 15, 2019 12:56 UTC