A study by the Carmichael Center of the Australian Institute claims that the Australian automotive industry could revive as demand and sales of electric vehicles increase significantly around the world. According to this study, Australia’s former automotive manufacturing expertise puts Australia in a great position to boost the manufacture of electric vehicles. The report estimates that processing this abundant lithium stockpile into batteries for electric vehicles could grow the industry to $ 15.8 billion. Increasing demand for electric vehicles will help the country revive the automobile industry. The latest study points out that the Australian government, businesses and other industry stakeholders should focus on the revival of the country’s automotive industry with renewable energy.

Source: Hindustan Times February 14, 2022 17:00 UTC