Asia

Incumbents Battery Policy Objectives & 2023 Updates

Asia

Incumbents Battery Policy Objectives & 2023 Updates

Proactive policies and incentives to maintain industry leadership

Policy objectives to 2025:

Improve supply of Li, Ni and Co

Achieve breakthrough of new power battery systems (e.g. Li-S), targeting 500Wh/kg at cell level

Global leader in recycling with >98% rate for Ni, Co and Mn and 85% for Li. Millions in CNY available for battery innovation funding incentives. Support for EVs shifts from purchase subsidy to tax exemption. New EVs purchased by 31/12/25 are exempt from vehicle purchase tax. Guideline on the trial work of the comprehensive electrification of vehicles in the public domain issued, focusing on public transport, service vehicles and charging infrastructure.

Policy objectives to 2030:

Increase domestic secondary battery production to 150GWh/year

Commercialize all-solid-state-batteries at scale

Reduce GHG by 46% from 2013

30k trained battery and supply chain workers

In-vehicle battery pack price max of 10k yen/kWh, household BESS price max of 70k yen/kWh Up to $2.2bn in new support for production of batteries in Japan. Deal struck with US to secure supply of EV battery minerals and enable Japanese OEM access to US $7,500 EV tax credit.

2023 Battery industry roadmap proposal with following aims:

Increase domestic production capacity of CAM to 1.58mt

Increase export of battery equipment to KRW 3.5bn over next 5 years

100% of all secondary batteries to be recycled

40% global market share by 2030 2023-2030 public-private joint R&D innovation fund launched and > KRW 20 trillion to be committed to commercializing advanced battery technologies by 2030.

Source: China Policy Explainer; China Dialogue; Gov.cn; Japan Policy Explainer; Reuters-$2.2bn; Reuters-US Trade Deal; US-Japan Trade Deal; South Korea Policy Explainer; Korea Herald

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