“Large-scale investments by Toyota group and so on will hopefully lead to a significant strengthening of our country’s supply chain for storage batteries,” he said.
The government said mass production of the batteries was expected to start in stages from October 2026 onwards. The government will shoulder up to 117.8 billion yen yen, or just over a third of about 330 billion yen in investments including for development of next-generation solid-state batteries and lithium iron phosphate batteries, METI said.
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