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EV Batteries: Steadily Strengthen Domestic Production Bases

48 1
05.10.2024

Editorial

15:44 JST, October 4, 2024

There is a growing international trend for countries to establish domestic supply chains for storage batteries, the core component of electric vehicles. It is hoped that Japan also will steadily strengthen its domestic production bases by deepening cooperation between the public and private sectors.

The Economy, Trade and Industry Ministry has decided on a policy to provide subsidies of up to about ¥350 billion to companies such as four auto manufacturers — Toyota Motor Corp., Nissan Motor Co., Subaru Corp. and Mazda Motor Corp. — for their investment plans in EV batteries.

The companies plan to invest a total of about ¥1 trillion by 2028, and subsidies that are equivalent to about one-third of that amount will be provided.

Toyota and Nissan will build separate plants in........

© The Japan News


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