Australian battery industry stakeholders have rejected the Productivity Commission’s doubts on the effectiveness of industry support, with one innovation expert describing it’s claims as “tiresomely predictable”.
Released on Thursday, the Productivity Commission’s (PC) report argued that if the United States’ Inflation Reduction Act was successful in driving rapid growth in its battery industry, it would be less likely that Australia could develop an “economically efficient battery industry”.
It also suggested that if the Commonwealth invests in battery cell manufacturing, “the cost of that support may outweigh the benefits for GDP and economic growth”.
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