Japan wants to ramp up battery production in-country, calling for a $24 billion investment to increase manufacturing.
Battery production is becoming more important to companies and countries alike as the world pivots to renewable energy, battery-powered vehicles, and energy storage. Amid growing international tensions, many countries are looking to increase production within their own borders rather than rely on China.
According to Reuters, Japan is the latest country that wants to increase its in-country production, calling on the public and private sectors to develop the manufacturing capabilities the country needs.
“The government will be in the forefront and mobilise all its measures to achieve the strategy’s goals, but we can’t achieve this goal without the efforts of the private sector,” said industry minister Yasutoshi Nishimura.
Japan has set the goal of becoming carbon neutral by 2050, and increased battery production is a critical step in that direction.