Battery industry: The Japanese government has proposed a $24 billion investment

Japan needs more than $24 billion in investment from the public and private sectors to develop competition for batteries used in electric vehicles and energy storage, the industry ministry said on Wednesday, according to Reuters. sex manufacturing base. A panel of experts tasked with developing a battery strategy has also set a goal of producing 30,000 trained workers for battery manufacturing and supply chains by 2030, the Ministry of Economy, Trade and Industry said.

The Japanese government's ultimate goal is to revive the country's battery industry, as both China and South Korea are fast gaining market share in lithium-ion batteries.

"The government will be at the forefront and mobilize all measures to achieve the strategic goals, but we cannot achieve this without the efforts of the private sector," Japan's Industry Minister Yasutoshi Nishimura said at the end of a panel meeting, calling for closer Cooperation.

In April this year, the Japanese government set a 2030 goal: by 2030, the domestic production capacity of Japanese battery manufacturers will increase from the current 20 GWh to 150 GWh, and the global production capacity of Japanese battery manufacturers will increase from the current 60-70GWh is increased to 600GWh, and the global market share will increase to 20%. In addition, the plan proposes to achieve full commercialization of all-solid-state batteries around 2030. It is estimated that 600GWh is equivalent to the production capacity required for 8 million electric vehicles. Based on this calculation, according to the plan of the Ministry of Economy, Trade and Industry of Japan, Japanese battery manufacturers need to increase their production capacity by about 10 times within 8 years.

On Wednesday, the Japanese government added talent targets and investment targets to the above targets. Japan's industry ministry also said on Wednesday that the government would expand support for mines where Japanese companies buy minerals used in batteries and strengthen alliances with resource-rich countries such as Australia, as well as in Africa and South America.

As minerals such as nickel, lithium, and cobalt are essential for environmentally friendly technologies, the demand for these minerals is expected to increase significantly in the coming decades.

To produce 600GWh of batteries in 2030, the Japanese government expects to need about 380,000 tons of lithium, 310,000 tons of nickel, 60,000 tons of cobalt, 600,000 tons of graphite, and 50,000 tons of manganese.

Batteries are central to the government's goal of achieving carbon neutrality by 2050, as they are critical to electrifying mobile devices and promoting the use of renewable energy, Japan's industry ministry said.

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