TOKYO -- The Ministry of Economy, Trade and Industry will subsidize up to half the cost of mine development and smelting projects of important minerals by Japanese companies, Nikkei has learned.
Economy
Japan to subsidize half of costs for lithium and key mineral projects
Push to reduce reliance on China for crucial materials in EV batteries and motors
A lithium extraction site in Chile. Global demand for lithium-ion batteries for EVs and plug-in hybrid vehicles is projected to increase sevenfold by 2030. (Photo by Nozomu Ogawa)
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