Japan plans to spend $340.1 billion to catch up with China and South Korea! The plan is to make up 20% of the world's batteries by 2030

In recent years, all countries have advocated energy conservation and emission reduction and vigorously developed new energy. Electric vehicles are gaining momentum, and sales of new energy vehicle brands such as Tesla are also skyrocketing. Power battery is the power source of new energy vehicles, the rapid development of new energy vehicles means that the market demand for power battery will be higher and higher.

Japan wants a piece of the power battery market and has decided to take measures to promote the development of its domestic battery industry. April 24 - Japan's Ministry of Economy, Trade and Industry (METI) said that the country plans to vigorously develop new energy and battery industries in the future, and expects to reach the target of 20% share of the global battery market by 2030 and increase battery production capacity to 600GWh.

South Korea and China are Japan's main rivals. And China and South Korea now have far more battery market share than Japan. According to SNE Research, China will account for 48.6 percent of the global market for installed power batteries in 2021, compared with 30.4 percent for South Korea and just 12.2 percent for Japan.

Japan plans to spend $340.1 billion to catch up with China and South Korea! The plan is to make up 20% of the world's batteries by 2030

It is impossible to increase battery capacity without capital investment. Toyota plans to invest a total of 1.5 trillion yen (about 76 billion yuan) in the industry by 2030. Honda and Nissan recently said they would invest 140 billion yen and 5,043 billion yen to boost their batteries. Responding to the call, Japan's three largest automakers spent a combined 340.1 billion yuan.

While Japan is forging ahead, China is not letting up in its efforts to develop the battery industry. Related reports show that Ningde Times is leading the growth of China's battery production scale. By 2030, Ningde Times' production capacity is expected to reach 800GWh, and China's battery production capacity will exceed 3000GWh.

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