Australia’s 2 Million Investment to Lead in Battery Manufacturing

Australia is set to invest 2 million in a national battery strategy, aiming to position itself as a global leader in battery manufacturing. The initiative comes as global demand for batteries is projected to quadruple by the end of the decade.

Industry Minister Ed Husic highlighted that while Australia is a significant supplier of minerals for battery production, much of the manufacturing is currently done overseas. The new strategy is intended to promote more battery manufacturing within Australia, ensuring that the country is involved in the entire production process.

Prime Minister Anthony Albanese emphasized that the battery strategy is part of a larger effort to boost manufacturing in Australia under the “Future Made in Australia” initiative. He stressed the vital role of batteries in Australia’s clean energy mix, alongside renewable energy, green hydrogen, and critical minerals, in meeting emission reduction goals and building a robust, clean energy manufacturing industry.

The announcement of the battery strategy coincides with pressure on the federal opposition to provide details on its plan for building nuclear power plants. The opposition is expected to reveal potential nuclear sites in the coming weeks, focusing on areas where coal or gas-fired power stations were previously located, such as the NSW Hunter Valley, Latrobe Valley in Victoria, Collie in Western Australia, and Port Augusta in South Australia.

Opposition energy spokesman Ted O’Brien acknowledged the importance of nuclear power in the future energy mix, but did not disclose specific sites under consideration. The government’s investment in battery manufacturing and the opposition’s plans for nuclear power highlight Australia’s commitment to diversifying its energy sources and establishing itself as a leader in clean energy technologies.