G-7 to help emerging economies move up supply chains for EVs, solar panels

Partnership with World Bank intended to develop manufacturing, cutting reliance on China

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The Group of Seven hopes to encourage developing economies to manufacture products like solar panels. © Reuters

MARIKO KODAKI, Nikkei staff writer

TOKYO -- The Group of Seven rich nations is considering a partnership with the World Bank to build more resilient supply chains for clean-energy technology by providing funding and other support to emerging markets, Nikkei has learned.

The G-7 aims to lift these countries beyond resource extraction into the more profitable business of manufacturing products like electric vehicles and solar panels, by helping them secure the needed technology and infrastructure funding.

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