Panasonic Corporation plans to produce refrigerators in India and strengthen its R&D function. The company said it would set up a unit in Haryana at an investment of Rs.115 crore to produce refrigerators. The factory, with annual capacity of five lakh units, will start production in November 2017. Tetsuro Homma, President of Appliance Company and Senior Managing Director, Panasonic Corporation, said: “Globally, India has been identified as one of the strategic regions for growth.” Panasonic will also establish an R&D centre in India. The company will also set up a design division in Bangalore in April in partnership with Tata Elxsi. — Special Correspondent
