Japan plans to eliminate gasoline vehicles by the mid-2030s

According to Reuters, the Japanese government announced on Friday that it intends to remove gasoline vehicles from its roads for the next 15 years.

The goal of the Japanese government’s plan is to reduce greenhouse gas emissions to zero and create approximately $ 2 trillion in green economic growth by 2050 annually.

The “Green Growth Strategy”, which targets the hydrogen and automotive industries, has emerged as a practical plan to meet Japanese Prime Minister Yoshihide Suga’s commitment to eliminate carbon emissions by mid-century.

In order to help revive the economy affected by the Covid_19 epidemic and to align Japan with the European Union, China and other economies that have set ambitious greenhouse gas emissions targets, “green investment” has become a top priority. have given.

The Japanese government will provide tax incentives and other financial support to companies with the goal of increasing annual economic growth by 90 trillion yen through green investment by 2030 and 190 trillion yen by 2030.

The government’s 2 trillion yen green fund will support companies investing in green technology.

The plan seeks to replace the sale of gasoline vehicles with electric vehicles, including hybrid vehicles and fuel cells, by the mid-2030s.

To accelerate the spread of electric vehicles, the Japanese government is considering reducing car battery costs. Battery costs will be reduced by more than half by 2030 to 10,000 yen or less per kilowatt hour.