Japan’s industry ministry is considering requiring all new vehicles to be electric, including hybrid vehicles, NHK reported earlier, adding the ministry would finalize a formal target following expert-panel debates as early as the year-end.
Japanese automakers for now are keeping quiet on what impact those measures could have on their businesses.
Toyota, Honda, Nissan and its alliance partner Mitsubishi Motors declined to comment.
In Japan, the share of electrified vehicles is expected to increase to 55 percent in 2030, Boston Consulting Group said in a report on prospects for battery-powered cars.
Globally, “the speed of expansion of the share of electric vehicles will accelerate due to the fact that battery prices are falling more rapidly than previously expected,” Boston Consulting said in the report.
Japan, China and South Korea recently announced firm targets to end net emissions of carbon, which has given momentum for companies and banks to push for cutbacks to keep global warming in check.
Germany, Norway and parts of the U.S. and Canada are already imposing, or plan to impose, curbs on fossil-fuel cars.
