Already a subscriber?The founder of Australia’s only lithium-ion battery maker says a $523 million “battery breakthrough” budget allocation for manufacturing will help underwrite a boom in critical minerals.imports electrochemical cells for its high-end batteries, which sell to defence and remote microgrids and must meet strict cybersecurity and resilience standards. But bringing the making of the cells to Australia would increase local content to 100 per cent from 50 per cent-70 per cent.
The critical minerals sector was the recipient of a separate $7 billion production tax credit over a decade.“Australia needed a battery manufacturer. Nobody else was doing it, so we did it, but we’re not the story,” Mr Craighead said. “Our aim is to create 65,000 jobs in critical minerals by being the offtaker – that’s the game-changer for Australia.
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FinancialReview - 🏆 2. / 90 Read more »