Japan eyes 20% of battery market by 2030; Joe Biden vows to save old-growth forests: NRG matters

Follow-ups -eshrag News:

Sun, 2022-04-24 12:14

RIYADH: Looking at the bigger picture, countries such as Japan and the US are shifting focus towards individual goals and targets. Japan is seeing a significant share of the global battery market while the US is vowing to rescue old-growth forests in light of Earth Day. Through a micro lens, businesses such as CWP global and Renault SA are making partnerships and taking initiatives that signal a green and electric future.

Looking at the bigger picture: 

·      Japan is targeting a 20 percent share of the global rechargeable battery market by 2030, Reuters reported. To achieve this, the Asian country is aiming to ramp up global output capacity at domestic firms by 10-fold to 600 GW hours, according to the industry ministry.  

·      US president Joe Biden has revealed plans on Earth Day to save old-growth forests, Reuters reported. This comes as the president has received backlash from environmentalists for shifting focus away from climate change and towards energy production as a result of high inflation rates and geopolitical tensions in Europe.

Through a micro lens: 

·      Innovator in renewable energy development CWP Global has chosen American engineering firm, Bechtel, to back one of its flagship large-scale green hydrogen and ammonia projects in North Africa, MEED reported. Under the agreement, both parties will work hand in hand to select optimal integrated configurations for the plants through ongoing conceptual and early planning solutions.

·      French multinational automobile manufacturer Renault SA is planning to sell part of its stake in Japanese multinational car maker Nissan Motor Co. for billions of euros that could help propel the electric vehicle shift, Bloomberg reported.

Main category: 
Business & Economy

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