Apr 01, 2010

Press Release

Panasonic Establishes New Automotive Electronics Sales Company In the Republic of India

Osaka, Japan - Panasonic Corporation today announced the establishment of Panasonic Automotive Systems India (PASI) as an internal division company of Panasonic India Pvt. Ltd. With the head office in Gurgaon, Haryana, and a sales office in Bangalore, Karnataka, PASI specializes in sales and support of in-car equipment and systems that provide comfort - such as multimedia equipment - safety, environmental protection and power management.

The new company aims to develop a sales structure which enables quick response 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 percent over the previous year. Panasonic expects the number will exceed 4 million cars in 2015 as major auto makers continue to invest aggressively.

Since its establishment in January 2003, Automotive Systems Company, an internal division company of Panasonic, has expanded its business overseas by establishing operations in North America, Europe, China and Thailand. With the new sales and support base in India, which will work closely with the development and manufacturing divisions of Panasonic Automotive Systems Asia Pacific (Thailand) Co., Ltd., Panasonic will reinforce its car electronics business in the global market and accelerate business growth by capturing the high-volume segment.

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Major Business Locations of Automotive Systems Company in the World

Automotive Systems Company in India

About Panasonic

Panasonic Corporation is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of 7.77 trillion yen (US$78.4 billion) for the year ended March 31, 2009. The company's shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE: PC) stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://panasonic.net.

Media Contacts:

Akira Kadota, International PR
Panasonic Corporation
Tel: 03-6403-3040 Fax: 03-3436-6766
Panasonic News Bureau
Tel: 03-3542-6205 Fax: 03-3542-9018
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