It is reported that Japan's Ministry of economy, Trade and Industry will increase subsidies for the purchase of electric vehicles, plug-in hybrid vehicles and fuel cell vehicles.

The Ministry of economy, Trade and Industry will seek a budget of 33.5 billion yen for the 2022 fiscal year, twice the budget for the current fiscal year.

Details will be worked out later, but the department is considering raising the level of subsidies to bring prices in line with gasoline cars.

The government currently provides a subsidy of up to 600000 yen per electric vehicle, while the subsidy for plug-in hybrid vehicles and fuel cell vehicles is 300000 yen and 2.5 million yen respectively.