The panel, which included chiefs of major automakers such as Toyota Motor Corp. and Nissan Motor Co., also reported that a new industry entity will be set up by next March under which automakers will collaborate in the joint procurement of cobalt, an essential element involved in the manufacturing of electric car batteries.
The rare decision by rival carmakers to cooperate on the acquisition of the scarce resource comes as Chinese counterparts take the lead in the field.
Competition for developing electrification technology has also been heating up in response to stricter emissions regulations worldwide.
The panel, set up by the Ministry of Economy, Trade and Industry in April to discuss ways to spread the use of electric vehicles, also set a target to reduce greenhouse gas emissions of a single passenger vehicle by 90 percent by 2050, compared with 2010 levels.
“Japan would like to contribute to achieve zero emissions on a global scale by spreading electric vehicles worldwide. That’s a goal only Japan, home to the top level of the auto industry, can set,” economy minister Hiroshige Seko said during the panel meeting.