Overview

• The Japanese government will support 12 projects related to storage batteries and materials.
• Toyota and Nissan are among the companies investing heavily to increase battery output.
• Japan's EV battery production capacity is expected to grow from 80 GWh to 120 GWh.
• The move responds to declining domestic EV sales and competition from foreign brands.
• Previous government subsidies included nearly $1 billion for battery production last year.