Toyota to expand Japan EV battery output with $850m subsidy

Exclusive: Government aid will also go toward next-generation batteries

Toyota's bZ4X electric sport utility vehicle. The automaker is planning a major push to bolster production and development of batteries. (Photo Koji Uema)

SHIZUKA TANABE, RIHO NAGAO and RYOHEI SHIMIZU, Nikkei staff writers

June 16, 2023 00:45 JST

Updated on June 16, 2023 02:05 JST

TOKYO/NAGOYA -- Japan's industry ministry will provide a roughly 120 billion yen ($853 million) subsidy to Toyota Motor to expand its production of electric-vehicle batteries, Nikkei has learned, in a bid to boost domestic output and curb supply chain risks.