Japan to give Toyota $841 million support for domestic EV battery output

Japan to give Toyota $841 million support for domestic EV battery output

TOKYO (Reuters) -Japan will give Toyota up to $841 million in subsidies for the automaker's investment in domestic production of batteries used in electric vehicles (EVs), Industry Minister Yasutoshi

Japan to give Toyota $841-M support for domestic EV battery output

TOKYO  -Japan will give Toyota up to $841 million in subsidies for the automaker’s investment in domestic production of batteries used in electric vehicles (EVs), Industry Minister Yasutoshi Nishimura said on Friday. Toyota this week laid out a sweeping plan for new technology and a radical redesign of factories, sending the clearest signal yet of […] The post Japan to give Toyota $841-M support for domestic EV battery output appeared first on I…

Japan to give Toyota $841 million support for domestic EV battery output

Japan's Ministry of Economy, Trade and Industry is going to provide $841m in subsidies for Toyota to expand its domestic production of batteries used in electric vehicles. Minister believes that this move would strengthen Japan's supply chain for storage batteries. The government said mass production of the batteries was expected to start in stages from October 2026 onwards.

Toyota to expand Japan EV battery output with $850m subsidy

TOKYO/NAGOYA -- Japan's industry ministry will provide a roughly 120 billion yen ($853 million) subsidy to Toyota Motor to expand its production of el