Mumbai: Japanese consumer electronics maker Panasonic today said it had formed automotive sector-focused entity in India.
Panasonic Automotive Systems India (PASI), an internal arm of Panasonic India Pvt. Ltd, will focus on sales and support of in-car equipment and systems such as multimedia equipment, safety, environmental protection and power management, in India's rapidly growing automobile sector.
According to Panasonic, the new company would have a sales structure responds quickly to the Indian automotive market, facilitated by fast decision-making and sales strategy catering to the local needs. The company, as part of Panasonic's global business strategy to strengthen its presence in emerging countries including India, will strive to take advantage of the rapidly-growing Indian market for car electronics.
Automobile production in India is expected to have reached 2.4 million cars in the year to March 2010, an increase of 17 per cent over the previous year. Panasonic expects the number will exceed 4 million cars in 2015 as major auto makers continue to invest aggressively.