Japan to Invest $1.7 Billion on Low Carbon Car Technology

The government fund will help companies develop cheaper and cleaner vehicles to cut the use of fossil fuels and reduce car emissions. Japan's move follows a recent proposal to halve global greenhouse gas emissions by 2050.

Published: 03-Jun-2007

The Ministry of Economy, Trade and Industry (METI) plans to spend 209 billion yen over the next five years to support the development of clean vehicle technology that would lead to a significant reduction of both fuel consumption and greenhouse gas (GHG) emissions. Under the plan, next-generation vehicles featuring innovative powertrains and fuels will be awarded a grant.

Prime Minister urges global action on climate change

The initiative follows a proposal by Japan's Prime Minister Shinzo Abe last week to halve global emissions by 2050 without, however, specifying a target for Japan's own emission reductions. Abe's plan foresees a joint effort from both industrialized and developing nations and seeks to provide an international framework for the post-Kyoto Protocol era starting in 2012.

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