When Elon Musk announced that he plans to build the world’s biggest ion battery to power to South Australia, it was a sign that the state truly has made a stunning turnaround. Things looked grim for South Australia back in 2013, when GM announced it would stop manufacturing cars in Australia as of fall 2017. Adelaide, the biggest city in South Australia, had prospered after World War II as a manufacturing hub for automobiles, appliances and textiles. The first step was a review of commercialization and venture capital investments in South Australia. “Our wine and food are attracting huge investment from overseas,” says Andrew Cullen, managing partner of Deloitte in South Australia.

Source: Forbes July 07, 2017 18:00 UTC