Indian petroleum refiner and fuel retailer Indian Oil Corporation Ltd (<a href="https://www.bseindia.com/stock-share-price/indian-oil-corporation-ltd/ioc/530965/" target="_blank">BOM:530965</a>) and Japan’s Panasonic Energy Co Ltd are looking to set up a joint venture (JV) to make lithium-ion batteries in India to serve the electric vehicle (EV) and energy storage markets.