Toyota, Nissan, Honda and Mitsubishi to provide financial assistance to installers of charging stations for electric vehicles in Japan

Toyota, Nissan, Honda and Mitsubishi have agreed on the details of specific financial assistance they will provide to installers of charging stations for electric vehicles (PHVs, PHEVs, and EVs). Electric vehicles are expected to play a major role in driving the energy policy for the next generation. In order for them to become widely adopted, however, it is imperative that charging infrastructure be made widely available as quickly as possible. By assisting installers with the part of their costs not covered by government subsidies, the four companies are aiming to promote wider availability of chargers to make electric vehicle use more convenient.

The program announced today targets charging facilities recognized to have high public value under the subsidy utilization plans drawn up by local governments. Financial assistance will be made available to those businesses and operations that satisfy certain conditions, such as destination charging spots at commercial facilities and lodging facilities, as well as en-route charging spots at service areas and toll-road parking areas, convenience stores on regular roads, and service stations. By the spring of 2014 the four companies also plan to establish a management organization that will set up and manage a membership-based charging service.

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