The Japanese government has announced its plans to provide subsidies of up to $1.8 billion for projects related to storage batteries and chips, as part of Tokyo's latest effort to secure its supply chains. Industry Minister Yasutoshi Nishimura revealed that the government will subsidize up to 184.6 billion yen ($1.38 billion) for eight storage battery-related proposals and up to 56.4 billion yen for two semiconductor-related projects. Among the proposals that the government will subsidize is a joint plan by Honda Motor and battery maker GS Yuasa to invest around 430 billion yen to increase the production of storage batteries. The ministry will provide up to 158.7 billion yen in subsidies for the project. In a statement, Honda, GS Yuasa, and battery maker Blue Energy announced plans to commence production in April 2027, with mass production scheduled for October of the same year. The companies plan to construct a new plant with a production capacity of at least 20 gigawatt ho...
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