Storage Battery Project Receives ¥158.7 Billion Govt Subsidy
14:31 JST, April 28, 2023
Honda Motor Co. and battery manufacturer GS Yuasa Corp. will receive ¥158.7 billion in special subsidies through a government program aimed a strengthening domestic production of storage batteries from an economic security viewpoint.
Storage batteries for use in electric vehicles, homes and other applications have been designated by the government as “specified important materials” based on the economic security promotion law.
The two companies plan to begin supplying lithium-ion batteries from April 2027 with a total investment of ¥430 billion, including the subsidies provided by the Economy, Trade and Industry Ministry.
"BUSINESS" POPULAR ARTICLE
Japan’s Economy Contracts as Demand Wanes
Japan Railway Operators Eye Net-zero CO2 Emissions Via Hydrogen Fuel Cell Trains
3 Japan Railway Firms to Introduce System to Pay Fare by Tapping Credit Card at Ticket Gates
Suntory’s Hibiki Whiskey Price Planned to Increase by 125％; Demand Higher than Production
Energy Challenges / High Electricity Bills Overshadow Digitalization in Japan
JN ACCESS RANKING
- Japan’s Economy Contracts as Demand Wanes
- AI-generated Child Porn Floods Japan-based Website (Update 1)
- Bears Sighted in Tokyo Suburbs, Including near Mt. Takao (Update 1)
- Tokyo Dips below 10 C; Temperatures Fall in Japan
- Tsunami observed in Japanese coast after the earthquake near Philippines (UPDATE2)