Nippon Shokubai announced that it will increase its investment in a new lithium-ion battery materials plant planned for Kitakyushu City to approximately ¥43 billion and delay the start of operations until December 2028.
Nippon Shokubai announced that it will increase its investment in a new lithium-ion battery materials plant in Kitakyushu City, which was scheduled to begin operations in 2028, from approximately ¥37.5 billion to approximately ¥43 billion.
The increase in investment is attributed to higher construction costs resulting from surging material costs, rising resource prices and the weaker yen.
The Ministry of Economy, Trade and Industry subsidy for construction of the plant remains unchanged at up to ¥12.5 billion, while operations are expected to begin in December 2028 due to delays in acquiring the land. Nippon Shokubai said it is also moving forward with plans for a new plant in North America, against a backdrop of growing demand for EVs and energy-storage batteries.