Japan to Subsidize Construction of Storage Battery Plants

Politics

Tokyo, Nov. 17 (Jiji Press)--The government is planning to set up a new subsidy program to support the construction of storage battery plants in Japan, it was learned Wednesday.

The government is expected to include the plan in the new economic stimulus package to be adopted on Friday and set aside some 100 billion yen for the program in a draft fiscal 2021 supplementary budget.

At a time of intensifying competition over storage batteries, seen as key for electronic vehicles and other next-generation industries, the government hopes to secure stable supplies by strengthening domestic production bases.

For decarbonization, the government aims to limit domestic new passenger car sales to electrified models, such as electronic vehicles and hybrid vehicles, by 2035.

The planned subsidy program is in line with this plan.

[Copyright The Jiji Press, Ltd.]

Jiji Press