Global battery industries have accelerated rapidly, with the potential growth for Australia now more than double previous estimates.
A new report, Charging Ahead – Australia’s Battery Powered Future reveals the battery industry could provide $16.9 billion per annum in value-add and support 61,400 local jobs by 2030.
Increased adoption of electric vehicles is the key driver behind the forecast growth, with increased need for batteries in stationary storage also contributing to global battery demand.
The report analysed global influences on the potential growth of Australia as a major supplier of battery minerals. With the support of the $15 billion National Reconstruction Fund and the $1 billion value add-in resources sub-fund, its recommendations could result in Australia's battery industry becoming a global leader.