The Japanese government subsidizes Honda and Toyota with 10 billion yen to promote the development of hydrogen fuel cell technology

Japan's Ministry of Economy, Trade and Industry announced that it would provide subsidies to Honda and Toyota Motor to enhance hydrogen fuel cell production capacity, especially in the truck sector. The government has established a one-third subsidy policy for decarbonization-related supply chain equipment investment, and decided to provide Honda with 14.7 billion yen (about 697 million yuan) and Toyota with 11.2 billion yen (about 531 million yuan) in financial support.