In the recent past, Government has come out with many stringent regulations like the new emission standards which prescribe the engine to be highly efficient and new crash-test standards which dictate that vehicles to undergo tests for full-frontal, offset-frontal and side impact tests to get the certification.

The automotive battery market is anticipated to register a CAGR of about 6.5 per cent, from 2019 to 2024, as per the Mordor Interlligence Forcast.

Toyota Motor Corporation and Panasonic Corporation have signed a business-integration contract and a JV contract toward the establishment of a new company related to the automotive prismatic battery business.