On May 23, 2024 local time, the Australian government officially released the National Battery Strategy. This is also the country’s first national battery strategy. It aims to lead the Australian battery industry towards a competitive and diversified future, while strengthening The nation’s economic resilience and energy security.
The National Battery Strategy outlines how the Australian Government will support the development of the battery industry, with a funding action plan included in the National Budget 2024-25:
$523.2 million -Battery Breakthrough Initiative, managed by ARENA, promotes the development of battery manufacturing capabilities through manufacturing incentives targeting the highest value opportunities in the supply chain.
$20.3 million -Building Future Battery Capabilities to incentivize cutting-edge battery technology research, as well as labor skills training in battery research, manufacturing, transportation and recycling.
$5.6 million-Support to deliver the Australian Made Battery Precinct, committed to carrying out the groundwork to support the establishment of the Australian Made Battery Precinct in partnership with the Queensland Government.
$1.7 billion - Future Made in Australia Innovation Fund, which will accelerate the deployment of innovation in key industries, including clean energy technologies such as battery manufacturing.
Source：CNESA