Japan needs to ramp up its production of electric vehicles – or risk a 14% drop in GDP, a Climate Group report has warned, as it is lagging behind markets in Europe, China and the US in domestic EV sales, Electrek reports.
With major car markets planning to reduce use of internal-combustion-engine vehicles in the 2030s and Japan’s reliance on auto manufacturing for a fifth of its exports, it could lose half of its auto exports and 1.7 million jobs, plus a 14% drop in GDP by 2040, the report said, alleging that Toyota had shown significant resistance to the EV transition.
Read the full report: Electrek.
ALSO on AF:
Nissan Says ‘No Decision’ Made on Spinning Off EV Unit
China Electric Vehicles Index Tumbled 10.5% in Past Month
Japan’s Subaru to Speed up Shift to Electric Vehicles
