$12m the wheel deal

Carbon Revolution wins federal government grant

WAURN Ponds advanced manufacturer Carbon Revolution has been granted up to $12m from the Morrison government.

The money will help the company fund its $33m project to expand manufacturing of carbon fibre wheels to the global electric vehicle market.

The federal government said the funding was expected to increase the company’s production by about 94 per cent, equating to an additional 75,000 carbon-fibre wheels per annum, and reduce the cost of a carbon fibre wheel by about 60 per cent.

Victorian Liberal Senator Sarah Henderson said Carbon Revolution was producing some of most technically advanced and highest performing wheels on the planet, with customers including Ford and

Ferrari. “Already a global technology powerhouse and major local success story, this $12m grant from the Morrison government, will enable sustainable wheel supply to the global electric vehicle market, driving cleaner technology and creating 323 smart jobs,” Senator Henderson said.

The federal government said its funding would provide better commercialisation pathways for research at Deakin

University and improve Carbon Revolution’s ability to secure global supply contracts for the EV market.

Industry Minister Angus Taylor said the funding was a testament to the strength of Carbon Revolution.

“Victoria has long been the centre of Australian manufacturing, and remains a key source of revenue and jobs for the Victorian economy,” he said. “Victorians have been strong and resilient in the face of a number of Covid-19 related lockdowns, which posed real challenges to these manufacturers.

“That’s why we are backing our manufacturers to grow their business, create more jobs, more exports and more investment. The ability to make the things our country needs is a key part of the Morrison government’s plan for a stronger economy.”