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Japan and ASEAN plan joint strategy on auto production, Nikkei reports
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Japan and ASEAN plan joint strategy on auto production, Nikkei reports
May 19, 2024 4:03 PM

May 20 (Reuters) - Japan and the Association of

Southeast Asian Nations (ASEAN) plan to create their first joint

strategy on automobile production and sales within the Southeast

Asian bloc to counter China's increasing presence in the

electric vehicle market, Nikkei newspaper reported on Monday.

The aim is to draw up an interim joint strategy through

around 2035 when the economic ministers of Japan and ASEAN

members meet as early as next September, Nikkei reported,

without citing any source.

The joint strategy is expected to entail cooperation in

personnel training, decarbonization in production, mineral

resource procurement, and investment in next-generation fields

such as biofuels, Nikkei said.

Japan intends to tap the 140 billion yen ($899.51

million) that its Ministry of Economy, Trade and Industry

secured in the budget for assistance to the Global South, for

personnel training, the report said.

Last week, Japan's Honda Motor ( HMC )

pledged

to double its electrification and software investment to

about $65 billion through fiscal 2030, as it faces growing

competition from a raft of Chinese automakers, including BYD

.

($1 = 155.6400 yen)

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