As EVs = electric vehicles are expected to spread worldwide, Japan has signed a new memorandum of understanding with Canada, which has abundant reserves of important minerals that are indispensable for battery materials, and has decided to cooperate toward the stable supply of batteries.
With the spread of EVs, the importance of batteries is increasing, and competition for important minerals such as nickel, cobalt, and lithium, which are indispensable materials, is intensifying with China and other countries.
Against this backdrop, the governments of Japan and Canada have signed a new memorandum of understanding and will cooperate with each other to ensure a stable supply of batteries.
The MOU is expected to include financial and technical cooperation from the Japan in exploration of critical mineral resources in Canada, as well as subsidies from the Canadian government to help Japan companies build battery production plants in Canada.
Canada has abundant reserves of important minerals such as nickel, cobalt, and lithium, and the Japan government aims to ensure a stable supply of batteries through the expansion of battery manufacturers into the region.
It is also expected to have the effect of leading to exports to neighboring United States, and this memorandum of understanding is scheduled to be signed with local ministers next week when Minister Nishimura visits Canada.