Japan-based GS Yuasa and Honda,have announced that their plans for research, development and investment in mass production of lithium-ion batteries, primarily for EVs, have been approved by the Japanese Government.
The plan covers the mass production of high-capacity, high-power lithium-ion batteries, with a capacity of 20 GWh in Japan. Operations are expected to start in April 2027 and full-scale mass production in October 2027.
The total project cost is approximately 434.1 billion yen and the three companies will receive up to approximately 158.7 billion yen in subsidies from the Japanese Government.
Additionally, around 56.4 billion yen will be allocated as subsidies to support two semiconductor projects in Japan. “We have great expectations that this will lead to a stable supply of storage batteries and the promotion of GX (green transformation),” said Japanese Industry Minister Yasutoshi Nishimura.