Connect with us

Hi, what are you looking for?

DOGE0.070.84%SOL19.370.72%BNB287.900.44%USDC1.000.01%AVAX15.990.06%XLM0.080.37%
USDT1.000%XRP0.392.6%BCH121.000.75%DOT5.710.16%ADA0.320.37%LTC85.290.38%
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

Japan will subsidize storage battery, chip projects up to $1.8 billion

Nishimura Yasutoshi, Minister of Economy, Trade and Industry (METI), talks during an interview with ... Nishimura Yasutoshi, Minister of Economy, Trade and Industry (METI), talks during an interview with Reuters in Tokyo, Japan, April 5, 2023. REUTERS/Androniki Christodoulou
Nishimura Yasutoshi, Minister of Economy, Trade and Industry (METI), talks during an interview with ... Nishimura Yasutoshi, Minister of Economy, Trade and Industry (METI), talks during an interview with Reuters in Tokyo, Japan, April 5, 2023. REUTERS/Androniki Christodoulou

Listen to the article now

Japan will subsidize storage battery chip projects up to $1.8 billion. Friday, Industry Minister Yasutoshi Nishimura announced up to $1.8 billion in storage battery and semiconductor subsidies.

Nishimura told reporters the government would finance eight storage battery projects with 184.6 billion yen and two semiconductor projects with 56.4 billion.

Honda Motor Co Ltd (7267.T) and GS Yuasa Corp (6674.T) plan to spend 430 billion yen on storage battery production, with the ministry financing up to 158.7 billion.

“We have great expectations that this will lead to the stable supply of storage batteries and the promotion of GX (green transformation),” Nishimura said.

Honda, GS Yuasa, and their battery joint venture Blue Energy Co Ltd. said they will start manufacturing in April 2027 and mass production in October 2027.

They said they would build a 20-GWh facility but didn’t indicate where.

“We would like to respond to a wide range of battery demand in Japan, which is expected to expand in the future, mainly for BEVs (battery electric vehicles),” Honda CEO Toshihiro Mibe said in the statement.


Comment Template

You May Also Like

Business

In the wake of Walmart’s departure as a major stakeholder and a stagnating Chinese e-commerce market, JD.com must persuade investors of its importance. This...

Economy

Friday saw dollar weakness as investors braced for Jackson Hole address by Federal Reserve Chair Jerome Powell, while the yen topped other currencies in...

Politics

  Joe Biden had other plans for his address. Under the current conditions, at least not this year. Tragedies and hardships have left their...

Economy

After a bank official was freed from captivity, activities at Libya’s central bank (CBL) were restored. Musaab Muslamm, chief of the bank’s information technology...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok