Japan plans to increase the production of locally developed semiconductors and batteries. The country wants to do the whole thing as a growth goal this year. They will also increase the allocation of money in this sector.
The draft growth plan is expected to be finalized in early June. The Japanese government will also run a large-scale investment campaign to make electric car batteries. However, Nikkei did not cite any sources in his report.
Tokyo is concerned about the global chip crisis. As a result, the work of Japanese carmakers is already being hampered and the export-dependent economy is under threat. The Japanese government wants to end that situation by planning to make chips locally.
The government will seek to increase the current fund of 20,000 crore yen to support the local chip manufacturing industry in growth strategies and to build improved semiconductors.