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Japan call for global collaboration to meet growing battery demand","us-japan-call-for-global-collaboration-to-meet-growing-battery-demand","article/us-japan-call-for-global-collaboration-to-meet-growing-battery-demand",{"_uid":557,"date":558,"tags":559,"editor":569,"content":579,"excerpt":705,"featured":51,"reporter":706,"_editable":710,"component":711,"seo_title":553,"categories":712,"visibility":722,"author_company":49,"featured_image":723,"seo_description":705,"author_full_name":49,"author_job_title":49,"formattedDate":728,"formattedArticleDate":729},"836ff084-d32e-46de-87e9-18dcaddb8eee","2023-09-20 00:00",[560,563,566],{"slug":561,"name":562},"battery-gigafactories-asia-pacific-2023","Battery Gigafactories Asia Pacific 2023",{"slug":564,"name":565},"japan","Japan",{"slug":567,"name":568},"usa","USA",[570],{"slug":571,"name":572,"content":573},"didi-bostock","Didi Bostock",{"job_title":574,"image":575,"bio":577,"linkedin":578},"Editor - Energy Transition & Economics",{"filename":576},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":580,"content":581},"doc",[582,589,594,599,604,627,632,637,642,649,654,659,664,677,682,695,700],{"type":583,"attrs":584,"content":585},"paragraph",{"textAlign":49},[586],{"text":587,"type":588},"Global collaboration and partnerships across the supply chain are needed to meet net-zero emission targets, government representatives from the US and Japan said at the opening session of the Battery Gigafactories Asia Pacific 2023 conference on Wednesday.","text",{"type":583,"attrs":590,"content":591},{"textAlign":49},[592],{"text":593,"type":588},"Being held in Tokyo, Japan, the event kicked off with a call from the US and Japanese government representatives who stressed the need to strengthen international cooperation given the scale and speed of investments required for the energy transition.",{"type":583,"attrs":595,"content":596},{"textAlign":49},[597],{"text":598,"type":588},"“We are fortunate that we have a lot of free trade agreement (FTA) partners that have extensive mineral opportunities and are great partners to us,” said Sarah Bianchi, Deputy United States Trade Representative, Executive Office of the President.",{"type":583,"attrs":600,"content":601},{"textAlign":49},[602],{"text":603,"type":588},"“I do think we are going to have to continue to rely on additional partners and additional resources to meet the near term demand,” she said.",{"type":583,"attrs":605,"content":606},{"textAlign":49},[607,609,617,619,625],{"text":608,"type":588},"The ",{"text":610,"type":588,"marks":611},"landmark",[612],{"type":613,"attrs":614},"link",{"href":615,"uuid":49,"anchor":49,"target":49,"linktype":616},"https://source.benchmarkminerals.com/article/one-year-on-the-ira-has-changed-the-battery-landscape-in-the-us","url",{"text":618,"type":588}," US Inflation Reduction Act (IRA), which completed a year in August, has already drawn over $110 billion investment worth announcements across the battery supply chain, including 14 new planned gigafactories in the US, according to ",{"text":620,"type":588,"marks":621},"Benchmark’s Gigafactory Assessment",[622],{"type":613,"attrs":623},{"href":624,"uuid":49,"anchor":49,"target":49,"linktype":616},"https://www.benchmarkminerals.com/market-assessments/gigafactory-assessment/",{"text":626,"type":588},".",{"type":583,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":588},"The IRA aims to build the North American battery supply chain as the country looks to lower reliance on China, which has for over a decade been building the supply chain and dominates the space. In March, the US and Japan signed an agreement focusing on free trade in critical minerals. Europe too has revealed its own critical material policy.",{"type":583,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":588},"“We are very aware that so much of the supply chain runs through China and that any dependence like that can be a risk for all of us. I think it’s a great opportunity to build supply chains that work,” said Bianchi.",{"type":583,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":588},"The US currently has FTAs with 20 nations and is looking to add more, including a recent discussion with Indonesia, a country abundant with nickel resources. ",{"type":643,"attrs":644,"content":646},"heading",{"level":645,"textAlign":49},4,[647],{"text":648,"type":588},"Japan’s battery capacity plans",{"type":583,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":588},"Representatives from Japan’s government echoed this sentiment and called for more global participation towards the energy transition.",{"type":583,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":588},"“Given that the battery supply chain is huge and unfortunately Japan is a resource-poor country we recognise the importance of strengthening global cooperation to secure battery metals, upstream resources, and to make the supply chain more resilient,” said Hidetaka Nishimura, Deputy Director General, Ministry of Economy, Trade and Industry, Japan.",{"type":583,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":588},"“To this end, the public and private sectors are currently working together to build global alliances,” Nishimura said, adding that Japan aims to increase its domestic battery capacity from Japanese companies to 150 GWh by 2030. As part of its battery strategy, Japan is targeting 600 GWh of global capacity coming from Japanese companies by 2030. ",{"type":583,"attrs":665,"content":666},{"textAlign":49},[667,669,675],{"text":668,"type":588},"Japan’s Panasonic is the world’s fourth largest battery maker and competes with China’s CATL and South Korea’s LG Energy Solution and SK Innovation. In North America alone Panasonic ",{"text":670,"type":588,"marks":671},"aims",[672],{"type":613,"attrs":673},{"href":674,"uuid":49,"anchor":49,"target":49,"linktype":616},"https://source.benchmarkminerals.com/article/panasonic-to-double-us-battery-production-capacity-with-kansas-plant",{"text":676,"type":588}," to triple or quadruple its battery capacity by 2029. ",{"type":643,"attrs":678,"content":679},{"level":645,"textAlign":49},[680],{"text":681,"type":588},"Scale and speed of investments",{"type":583,"attrs":683,"content":684},{"textAlign":49},[685,687,693],{"text":686,"type":588},"An ",{"text":688,"type":588,"marks":689},"analysis",[690],{"type":613,"attrs":691},{"href":692,"uuid":49,"anchor":49,"target":49,"linktype":616},"https://source.benchmarkminerals.com/article/financing-the-battery-arms-race-the-514-billion-cost-of-bridging-the-global-ev-supply-chain-divide",{"text":694,"type":588}," by Benchmark estimates that the battery industry needs to invest at least $514 billion by 2030 across the supply chain and $920 billion by 2035 to meet the expected battery demand. Nearly $200 billion of that capital needs to come into action over the next 2 to 3 years. ",{"type":583,"attrs":696,"content":697},{"textAlign":49},[698],{"text":699,"type":588},"“The ability to scale the supply chain with the right cost basis, which allows these batteries to continue to decrease in cost, is incredibly important,” said Andrew Miller, Chief Operating Officer, Benchmark. ",{"type":583,"attrs":701,"content":702},{"textAlign":49},[703],{"text":704,"type":588},"“It’s going to take a multinational effort in order for us to be able to achieve that,” he added. ","Global collaboration and partnerships across the supply chain are needed to meet net-zero emission targets, government representatives from the US and Japan said at the opening session of the Battery Gigafactories Asia Pacific 2023 conference on Wednesday. Being held in Tokyo, Japan, the event kicked off with a call from the US and Japanese government […]",[707],{"slug":571,"name":572,"content":708},{"job_title":574,"image":709,"bio":577,"linkedin":578},{"filename":576},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"836ff084-d32e-46de-87e9-18dcaddb8eee\", \"id\": \"\"}-->","article",[713,716,719],{"slug":714,"name":715},"batteries","Batteries",{"slug":717,"name":718},"critical-minerals","Critical Minerals",{"slug":720,"name":721},"geopolitics","Geopolitics","private",{"id":49,"alt":724,"name":724,"focus":724,"title":724,"source":724,"filename":725,"copyright":724,"fieldtype":726,"meta_data":727,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/e71c7e4db8/bm-benchmark-giga-apac-meti-1.jpg","asset",{"alt":724,"title":724,"source":724,"copyright":724},"Sep 20, 2023","20th September 2023",[],[],1792773910439]