Japan To Spend $841 Million To Help Toyota Produce Batteries For EVs

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japan to spend 841 million to help toyota produce batteries for evs 3b1069a

DIKSIA.COM - – The Japanese government is reportedly prepared to spend $841 million to support domestic production of batteries for 's (EVs).

“As international competition in EV battery manufacturing intensifies, competition for facility investment is also intensifying,” Japan's Minister of Industry Yasuhi Nishimura said in a statement on Friday (June 16, 2023).

“The large investment by the Toyota Group is expected to lead to a significant strengthening of Japan's battery supply chain,” he said.

Earlier this week, Japanese automakers will introduce high-performance solid-state batteries and other technologies to increase EV range.

Toyota said it aims to win the EV market by deploying next-generation batteries starting in 2026 with vehicles that offer longer range and faster charging times.

“What we want to achieve is to change the future with battery , or BEVs,” said , president of Toyota EV/BEV Factory, a new company, in a post on the carmaker's YouTube channel on Tuesday (13/6/13). mentioned in the video. 2023). ).

Later, funds provided by the Japanese government will also be used by Toyota to expand Japan's annual production capacity to 45 gigawatts (GWh).

Meanwhile, Honda and battery maker GS Yuasa announced the construction of a new plant with a minimum annual production capacity of 20 gigawatts (GWh).