Toyota, Nissan, and Consortium Invest 1 Trillion Yen to Boost Japan's Energy Storage Battery Capacity by 50%, Targeting Automotive Sector

Published: Sep 6, 2024 09:51

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

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