The foundation of Panasonic Energy India Co. Ltd. was laid by Late Mr. D. D. Lakhanpal and Mr. Konusuke Matsushita on 15th August 1972 at G. I. D. C. Makarpura Industrial Estate, Vadodara. It was set-up in collaboration with Matsushita Electric Industrial Company Limited, Japan when India's former Prime Minister Late Mrs. Indira Gandhi had visited Japan. After being highly impressed by the business policy of Late Mr. Matsushita, Late Mrs. Indira Gandhi had decided to take technical & financial assistance to start a dry cell battery unit in India. This unit was formed to meet the escalating needs of power and energy in India.

The building work & installation of the machinery from Japan was started rapidly. From 2nd July 1973, production was commenced with metal jacketed cell in Hyper Grade in UM-1 & UM-2 segments.

In 1989, another unit at Pithampur (Madhya Pradesh) started manufacturing the batteries.