East Asia

Purchases of new energy vehicles (NEVs) that occur between January 1, 2023, and December 31, 2023, will continuously be exempted from vehicle purchase tax. Only NEVs included in the List of NEV Models Exempted from Purchase Tax are eligible for tax exemption. “Supportive industrial policies” helped keep China in the top spot for the third time in a row in BloombergNEF’s (BNEF) global lithium-ion battery supply chain ranking.

Korea

Government-backed battery alliance to better source key metals in a bid to support the country’s battery industry: Hyundai, LGES, SK On, Samsung SDI, Posco Chemical.

The Ministry of Trade, Industry and Energy said South Korean companies planned to invest a combined KRW50trn (US$35bn) locally by 2030 to develop advanced technology for secondary batteries, used mostly in EVs, and in factories.

KRW19.5trn is allocated for research and development by 2030 with a further KRW30.5trn to be spent on domestic facility investment.

Japan

Specialist panel tasked with formulating battery strategy also set a target of securing 30,000 trained workers for battery manufacturing and supply chains by 2030 The panel has already set targets for domestic production capacity of EV and energy storage batteries at 150 gigawatt hours by 2030, and global capacity of Japanese makers at 600 GWh. An estimated 3.4 trillion yen ($24 Billion USD) from private and public sector needed for development. Japan asked the United States to be more flexible on electric vehicle (EV) purchase incentives for non-American carmaker

Volta Foundation

Extracted from the PDF; charts and images may read imperfectly.