Japan is to provide more subsidies for the production of batteries for electric vehicles (EVs). As much as $2.4 billion in support has been pledged for similar projects by Toyota and other major companies, in a bid to strengthen Japan’s battery supply chain.
The government will support 12 projects involving storage batteries or parts, materials or production equipment with up to ¥350 billion ($2.44 billion), Minister of Economy, Trade and Industry Ken Saito told reporters.
“We hope that these efforts will strengthen Japan’s storage battery supply chain and the competitiveness of the storage battery industry,” Saito said.
