Ministry of Economy, Trade and Industry to subsidize joint equipment investment costs for domestic manufacturing equipment manufacturers for storage batteries. Ensuring a stable supply of storage batteries, which are essential for EVs, is important for economic security, and the government is subsidizing companies' capital investment costs in order to expand storage battery production.
The aim is to expand the production capacity of manufacturing equipment, where supply and demand is tight, as automakers and other companies step up production ofstorage batteries. The Ministry of Economy,. Trade and industry will formally decide on the details of the system, including the subsidy rate, after public comment, and will begin accepting grants within this fiscal year.