Japan is aiming to grab a 20% share of the global rechargeable EV battery market by 2030 by boosting global output capacity at the Japanese companies by nearly 10-fold to 600 gigawatt hours , the country’s industry ministry has said.
Nobutaka Takeo, a director at the industry ministry, said that the ministry will step up support to help the Japanese battery industry recover global market share, which it has lost over the past several years in the battle with Chinese and South Korean rivals.
As a part of its 2030 strategy, Japan aims to boost domestic production capacity of batteries used in EVs and energy storage systems to 150 GWh by 2030 from around 20 GWh now.
The batteries are a significant move for Japan to achieve carbon neutrality in 2050, as they are the most important technology in the electrification of automobiles and other mobility devices.