Japanese offensive in battery production
Toyota, Nissan and other companies will invest one trillion yen (€6.3 billion) to increase Japanese battery production capacity by around 50 per cent. The push is due to massive government support.
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Japanese Domestic Battery Project
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6 Frequently Asked Questions about “How is the Japanese domestic battery project ”
Will Japan give more subsidies for EV battery production?
Japan will hand out more subsidies for electric-vehicle (EV) battery production, pledging as much as $2.4 billion in support for related projects by Toyota and other major companies, as it seeks to strengthen its battery supply chain.
How will Japan's new battery production plan impact the battery industry?
Japan's government-backed initiative is expected to significantly increase the country's annual production capacity for storage batteries, boosting it by around 50%—from 80 gigawatt-hours (GWh) to 120 GWh.
Will Japan ramp up battery production?
The move shows Tokyo is confident about ramping up battery production support after the United States and Japan struck a deal on electric vehicle battery minerals in March.
How much money does Japan spend on storage batteries?
Japan's government has committed to supporting 12 projects related to storage batteries, including those focusing on battery parts, materials, or production equipment, with subsidies of up to 350 billion yen ($2.44 billion).
Will Japan bolster EV battery production?
Japan's latest commitment to bolster electric vehicle (EV) battery production comes on the heels of previous government efforts, including nearly $1 billion in subsidies pledged in June 2023 and an initial batch of subsidies rolled out in April 2023.
Will Japan expand its storage battery supply chain?
We hope that these efforts will strengthen Japan's storage battery supply chain and the storage battery industry's competitiveness, Saito said. The move will help expand the country's production capacity for storage batteries by around 50% to 120 gigawatt-hours (GWh), from 80 GWh currently, Japanese media reported earlier on Friday.