Australia Government Releases First National Battery Strategy

Published: May 25, 2024 21:43

Source: SMM

Save

Australia government released its first "National Battery Strategy" on May 23, aiming to promote the development of the battery industry in Australia to make it competitive and diverse.

The Australian government plans to invest 5.23 billion Australian dollars to support local battery manufacturers in improving their value chain position. The strategy includes investing 0.203 billion Australian dollars in building future battery capabilities and enhancing national collaboration. Additionally, a fund of 17 billion Australian dollars will be created to support innovation and commercialization projects in key areas such as clean energy technologies. There will also be tax incentives provided for the production of key minerals in Australia, with a support of 7 billion Australian dollars to offset processing costs. Funds will be allocated to the Australian Renewable Energy Agency (ARENA) for the next 10 years starting from the 2027-28 fiscal year. Furthermore, investments will be made in developing clean energy workforce over the next five years, with 0.91 billion Australian dollars earmarked for this purpose. Other initiatives include enhancing mineral trade, supporting community battery projects with 2.243 billion Australian dollars, and collaborating with the Queensland government to invest up to 1 billion Australian dollars in building battery manufacturing parks.

Market forecast

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 hours ago

[SMM Analysis] New Technologies in Lithium Carbonate Production: Pathways and Bottlenecks

11 hours ago

[SMM Analysis] August 2026 Lithium Carbonate Market: Mid-Month Rally, End-Month Retreat Amid Supply Recovery

11 hours ago

12 hours ago

Special Action to Uphold the Bottom Line of Mandatory Product Certification: 108,500 CCC Certificates Suspended

It was learned today that the State Administration for Market Regulation has carried out an in-depth nationwide special action to uphold the bottom line of mandatory product certification, launching "random selection and public disclosure" supervision and inspection of certification bodies, covering all 34 CCC-designated certification bodies, 90 CCC-designated laboratories, and 300 voluntary certification bodies. To date, designated certification bodies have suspended a total of 108,500 CCC certificates involving 18,500 producer visits, and revoked a total of 44,900 CCC certificates involving 13,000 producer visits. Among them, more than 4,200 CCC certificates for power banks and lithium batteries that could no longer meet certification requirements were revoked or cancelled, effectively ensuring product quality and safety. At the same time, special governance of institutional filing and certification rules has continued. Since the beginning of this year, 50,200 rules have been reviewed, 30,300 were not filed, 17,700 were returned for rectification, and 2,186 were approved, ensuring high-quality certification activities through high-standard certification rules.

12 hours ago