Toyota, Nissan Lead $9 Billion Push to Boost Japan's EV Battery Capacity by 50%

Published: Sep 6, 2024 09:29

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Toyota, Nissan, and Other Companies to Jointly Invest 1 Trillion Yen to Boost Japan's Energy Storage Battery Production Capacity by 50%" Toyota Motor, Nissan Motor, and other companies will jointly invest 1 trillion yen to expand Japan's energy storage battery production capacity by approximately 50%. The investment will primarily focus on automotive battery production, which is expected to increase Japan's energy storage battery capacity from 80 gigawatt-hours to 120 gigawatt-hours. Toyota will expand battery production at two of its subsidiaries, with an estimated total investment of approximately 250 billion yen. Nissan plans to invest approximately 150 billion yen in the production of lithium iron phosphate batteries for automotive use, with the goal of commencing supply by 2028. Panasonic Holdings Corporation will produce core lithium-ion battery components for Subaru and Mazda, with an investment of approximately 550 billion yen.

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