The Government faced urgent challenges in the wake of the floods that have devastated large parts of eastern Australia. Reductions in spending and other sacrifices had to be made to help the nation fund the recovery.
As part of the response, the Government has closed applications to the Green Car Innovation Fund.
All contractual commitments and grant offers made by the Government through the Fund will be honoured; and applications received as at 27 January will be processed.
“The Government’s commitment to Australia’s automotive industry is strong and we recognise that manufacturing is a vital part of a strong and diverse economy,” Innovation Minister Senator Kim Carr said.
This is a message Senator Carr will be taking directly to global CEOs when he visits company headquarters later in the year.
“The Green Car Innovation Fund is only one component of the New Car Plan for a Greener Future,” Senator Carr said.
“The Fund itself represents an additional commitment of up to $500 million to our manufacturing sector which will leverage approximately $2 billion in total investment. The Australian Government’s partnership with the sector will be maintained. This partnership sustained investment at a time of global retreat.
Thanks to the Green Car Innovation Fund our automotive sector will be more environmentally sustainable.
“The New Car Plan is introducing new technologies in Australia at a very rapid rate from hybrid engines, electric vehicles, new fuel systems, batteries and light-weighting. The Plan is instrumental in enabling the Australian automotive industry to emerge from the global economic crisis in better shape than many of its international counterparts.
“The Plan is strengthening the automotive supply chain by underpinning investment, building capability and expanding markets internationally. The industry is providing a critical mass of design, engineering and manufacturing skills fundamental to a diverse and resilient Australian economy. The industry is producing higher-quality vehicles with high-skilled, high-wage jobs for Australians.
“The centrepiece of this plan is the Automotive Transformation Scheme, which will provide support worth $3.4 billion up to 2020.
“This continued commitment to the Plan and the range of other industry schemes administered by my Department show that we remain committed to ensuring Australian automotive manufacturers produce Australian made vehicles that are easier on the pocket and the environment.”
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