This country aims to grab 20% share of global EV battery market by 2030

As a part of its 2030 strategy, Japan aims to boost domestic production capacity of batteries used in EVs and energy storage systems to 150 GWh by 203
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FILE PHOTO: An electric car is seen plugged in at a charging point for electric vehicles. (REUTERS)
FILE PHOTO: An electric car is seen plugged in at a charging point for electric vehicles.

Japan is aiming to grab a 20% share of the global rechargeable EV battery market by 2030 by boosting global output capacity at the Japanese companies by nearly 10-fold to 600 gigawatt hours (GWh), the country's industry ministry has said. The statement comes as Japan's market share in global EV lithium-ion batteries used dropped to 21% in 2020 from 40% in 2015, and its share in batteries used in energy storage systems fell to 5% in 2020 from 27% in 2016.

Nobutaka Takeo, a director at the industry ministry, said that the ministry will step up support to help the Japanese battery industry recover global market share, which it has lost over the past several years in the battle with Chinese and South Korean rivals. The ministry, however, did not give a figure for Japan's current overall market share in rechargeable batteries.

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As a part of its 2030 strategy, Japan aims to boost domestic production capacity of batteries used in EVs and energy storage systems to 150 GWh by 2030 from around 20 GWh now. The country also aims to expand global output capacity by Japanese battery makers to 600 GWh by 2030 from the current 60-70 GWh, and will target full-scale commercialization of all-solid-state batteries around 2030.

The batteries are a significant move for Japan to achieve carbon neutrality in 2050, as they are the most important technology in the electrification of automobiles and other mobility devices. They are also essential for adjusting supply and demand of electricity to help boost use of renewable energy.

The ministry plans to lay out a final battery strategy this summer, including concrete support measures from the government.

(with inputs from Reuters)

First Published Date: 24 Apr 2022, 12:37 PM IST
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