Japan Announces $1.2 Billion in Subsidies for Honda, GS Yuasa Battery Making
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The Japanese government said it will provide Honda Motor Co. and GS Yuasa Corp. with 159 billion yen ($1.2 billion) in subsidies to support their battery-making efforts as it tries to boost development of the industry.
Honda and GS Yuasa are investing 430 billion yen to produce batteries, Trade Minister Yasutoshi Nishimura said at a briefing Friday. The government is also providing semiconductor makers with as much as 56.4 billion yen in subsidies.