LG Energy Solution and Panasonic Energy are accelerating their efforts to expedite plans for setting up manufacturing plants in India. Sources indicated that LG Energy Solution (LGES), the supplier of EV batteries to Tesla, General Motors, Hyundai, and e-scooter manufacturers such as Ola Electric and TVS Motor, has focused its search on three states: Tamil Nadu, Telangana, and Andhra Pradesh. 

Panasonic Energy, one of Tesla's major battery suppliers, is considering four states—Telangana, Tamil Nadu, Maharashtra, and Karnataka, according to some sources mentioned.

After the Pongal festival ends on Friday, LG Energy plans to visit a 100-acre land site in Manallur, near Chennai in Tamil Nadu, according to one of the individuals mentioned above. “They want to start slow and then scale up slowly,” the person said. “Tamil Nadu’s advantage is that it has a robust auto ecosystem which can be a clincher.”

LGES said it did not have specific plans for India for the moment. “However, we are exploring various potential business options and monitoring (the) market situation closely,” it said in a statement.

Last month, it was reported that the South Korean firm was negotiating with JSW Energy to produce batteries for electric vehicles and renewable energy storage in a partnership that would require an investment exceeding $1.5 billion.