Japanese Firms Led by Toyota, Nissan Plan Trillion Yen Investment in Battery Production Boost

Recently, Japanese companies including Toyota, Nissan, Subaru, Mazda, and Panasonic jointly announced plans to invest approximately 1 trillion yen over the next few years to boost domestic battery production capacity in Japan, increasing it from the current 85 GWh to 120 GWh. To this end, Japan's Ministry of Economy, Trade, and Industry (METI) will provide subsidies of nearly 350 billion yen, accounting for approximately one-third of the total investment.

Toyota plans to expand its battery production through its two subsidiaries, with an estimated investment of around 250 billion yen. Nissan, on the other hand, aims to invest 150 billion yen, focusing on the production of lithium iron phosphate batteries for vehicles, aiming to achieve supply by 2028. Furthermore, Subaru and Mazda will collaborate with Panasonic, jointly investing close to 550 billion yen in the production of battery components.