The Japs are now on a mission to eliminate gasoline-powered vehicles in 15 years’ time.
It will be recalled that ealier this year, Prime Minister Yoshihide Suga made a pledge to eliminate carbon emission on a net basis by 2050.
To achieve this goal the “green growth strategy” was put in place, the “green growth strategy” is directed towards the auto and hydrogen based industries.
The Prime has made green investment a top priority to help revive the economy that was badly dealt with by the COVID-19 pandemic, by so doing bring Japan to be in line with other countries of the world who are now cutting down emission.
According to Reports “the government will offer tax incentives and other financial support to companies, targeting 90 trillion yen ($870 billion) a year in additional economic growth through green investment and sales by 2030 and 190 trillion yen ($1.8 trillion) by 2050.
A 2 trillion yen green fund will support corporate investment in green technology.
The plan seeks to replace the sale of new gasoline-powered vehicles with electric vehicles, including hybrid and fuel-cell vehicles, by the mid-2030s.
To accelerate the spread of electric vehicles, the government targets slashing the cost of vehicle batteries by more than half to 10,000 yen or less per kilowatt hour by 2030.
It aims to boost hydrogen consumption to 3 million tonnes by 2030 and to about 20 million tonnes by 2050 from 200 tonnes in 2017, in areas such as power generation and transportation.”