Minister of Economy, Trade and Industry Nishimura
According to the Yomiuri Shimbun on September 15, the governments of Japan and Canada will collaborate in the field of storage batteries used in electric vehicles (EVs) and other vehicles. A memorandum of understanding will be signed soon. The main objective is to promote resource development and local production in Canada by Japanese companies, and to strengthen the supply chain for storage batteries, for which demand is expected to grow in the future as the country moves toward decarbonization.
METI Minister Nishimura will visit Canada and sign the MOU with Innovation, Science and Industry Minister Champagne and others on March 21. He will be accompanied by executives from Mitsubishi Corporation, Panasonic Energy, and other companies involved in resource development and battery production, and will exchange information with local companies.
The MOU will include a commitment by both countries to publicly support and encourage Japanese companies to invest in Canada. The MOU also mentions that the regulatory authorities will work together to facilitate the necessary licensing procedures, such as environmental impact assessments for development. It will also specify the promotion of relationships between Japanese companies and indigenous peoples, which may be necessary in resource-rich areas.
Japan relies on imports from China, South America, and other countries for many of its key minerals, including cobalt, graphite (graphite), and lithium, with about 90% of its graphite imports coming from China. Canada has abundant resources of graphite and lithium, and Japan hopes to reduce its dependence on China and strengthen its economic security.
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