TOKYO -- Honda Motor and other companies will receive subsidies totaling up to 240 billion yen ($1.79 billion) from Japan's Ministry of Economy, Trade and Industry to produce storage batteries and semiconductors, which the government has designated as strategically critical products.
Politics
Honda, others to receive $1.8bn in battery, semiconductor subsidies
Japan supports domestic production of critical items, including EV parts
Honda Motor and GS Yuasa will invest 434.1 billion yen to develop and produce lithium-ion batteries for electric vehicles at factories in Japan. The project is expected to receive a subsidy of up to 158.7 billion yen. © Reuters
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