Automotive Funding

9 February 2021

Australian businesses are continuing to benefit from $2.8 million in funding under the Morrison Government’s Automotive Innovation Lab Access Grants program.

The grants scheme is driving the Australian automotive industry forward, with support given to 17 businesses under Round 2 to take their innovative products and designs to the next level. A further $3.6 million in industry funding is expected to be unlocked this year.

Senator for Victoria David Van said the support has given businesses a much-needed boost to the automotive industry as it recovers from the economic effects of COVID-19.

“As businesses are still reeling from the impacts of COVID, there hasn’t been a more critical time than now to invest,” Senator Van said.

“These grants will help the businesses get their products to market sooner, which will grow the economy and create new Australian jobs.

“We recognise how vital innovation is to advance the nation’s automotive manufacturing industry and are committed to back businesses who can think out of the box and expand their product offerings to local and global markets.”

Among the recipients is the Innovative Mechatronics Group in Victoria, which has been given $103,000 for its project to develop Australia’s first national-scale hybrid battery replacement initiative, for the reuse and recovery of retired batteries from hybrid-electric vehicles.

Commencing operations this month, the project offers considerable environmental advantages as well as cost savings to the car’s owner.

The Automotive Innovation Lab Access Grants program is a key element of the Government’s $100 million Advanced Manufacturing Fund.

A full list of recipients can be found at https://business.gov.au/Grants-and-Programs/Automotive-Innovation-Lab-Access-Grants/Grant-recipients