Japan will provide $1.8 billion in subsidies for a number of battery storage and chip projects.
More stability in supply chains; Image: Argonne National Laboratory
Japan will support 8 projects related to battery storage with 184.6 billion yen ($1.38 billion). Another 56.4 billion yen will go to two projects related to semiconductors. Industry Minister Yasutoshi Nishimura says these subsidies are intended to secure supply chains.
Honda and battery maker GS Yuasa plan to invest 430 billion yen in a new factory to speed up battery production. The government will support this plan with 158.7 billion yen. Production should begin in April 2027 and mass production in October 2027, according to a statement from Honda.
The factory is expected to have a capacity of 20 gigawatt hours (GWh) per year. The plant is also expected to produce mainly batteries for electric cars. Further details were not disclosed.
