Japan Announces $2.4 Billion Subsidy for Domestic EV Battery Production

The initiative aims to bolster Japan's battery supply chain and reduce reliance on foreign manufacturers.

The Japanese government will support 12 projects related to storage batteries and materials.
Toyota and Nissan are among the companies investing heavily to increase battery output.
Japan's EV battery production capacity is expected to grow from 80 GWh to 120 GWh.
The move responds to declining domestic EV sales and competition from foreign brands.
Previous government subsidies included nearly $1 billion for battery production last year.