Australian Mines LTD (AMSLF)

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Labor’s plan to jump-start Australian electric vehicle industry with new fund

As part of its national electric vehicle policy, Labor is promising to invest millions of dollars in re-igniting Australia’s car manufacturing industry, with a focus on electric vehicles.

$A57 million fund is being pledged by Labor to create more jobs for Australians via “blue collar opportunities” while also addressing the pressing issue of carbon emissions and climate change.

Some $A30 million of the multi-million dollar plan would be used towards creating research and development opportunities to further develop Australia’s fledgling electric vehicle industry, with an eye to creating jobs in electric vehicle manufacture and design.

Another $A25 million will go towards grants for businesses and enterprises geared towards component research and manufacture.

The remaining $A2 million will go towards establishing an electric car battery making facility in Geelong in collaboration with Deakin University using sodium-ion technology, which it has been reported may be superior, safer and cheaper to produce than the lithium-ion batteries currently used in EVs.

The $57 million package would also be integrated with already established investment mandates under the $1 billion Advanced Manufacturing Future Fund and the Clean Energy Finance Corporation (CEFC).

We can see that fund are being pumped into Australia to develop the EV Industry. As we wait on Australian Mines LTD (AMSLF) to announce their financing for the battery plant project, we are assured that the government there is going to support this industry any way they can. We should be hearing from Australian Mines LTD (AMSLF) any day now on their financing.

https://thedriven.io/2019/05/09/labor-jumpstart-electric-vehicle-industry/