The ‘Accelerating battery industry hub development in Australia’ report highlighted the critical role of hubs in boosting investment and economic activity in Australia’s growing battery industry.
The report explored different international hub models that were used in the US, Germany and Japan, harnessing the benefits of co-location and collaboration was identified as a common strategy in their success.
Australia could achieve a competitive advantage from hub development, by leveraging our rich mineral endowment and strong track record of Environmental, Social and Governance (ESG) performance as the global push towards net zero gains pace.
As demand for renewable technologies rapidly increases, the development of a battery industry hub could help Australia become internationally competitive, boost industry investment and stimulate economic activity across the sector.
The Future Charge Report identified that establishing battery industry hubs was key to achieving a diversified battery industry in Australia which could deliver $7.4billion in annual value and support over 34,000 jobs by 2030.
"The report highlighted that there is no ‘one size fits all’ approach to successful hubs development. With a sound understanding of regional assets, industry needs, challenges and global trends, Australia has a strong value proposition to meet growing demand for batteries" - Dr Kirsten Martinus.