Electric vehicles may hold the key to revitalizing Australia’s vehicle manufacturing industry, according to a newly released industry report.

The Centre for Future Work report, “Rebuilding Vehicle Manufacture in Australia: Industrial Opportunities in an Electrified Future,” details how the global transition to EV manufacturing presents an “enormous” opportunity for the country.

Written by Dr Mark Dean, the report cites the many crucial elements for EV manufacturing Australia already offers: rich mineral reserves (such as lithium and other rare earths), advanced industrial base, highly skilled workforce, and consumer interest.

A thriving EV manufacturing industry would produce significant economic benefits, including thousands of good-quality jobs, an advancing high-technology supply chain, and a diversified export economy. Additionally, the accelerated transition to non-polluting energy sources and systems would help spur further innovation, research and engineering development in Australia.

For Australia to take full advantage of the opportunities EV manufacturing presents, however, the report cautions that major government support is required. Such support would include tax incentives, a long-term strategy for vocational training, global manufacturer enticements, and the rapid electrification of government vehicle fleets.

“No nation builds a major industry without its government taking a proactive role. This report shows there's no excuse for inaction, because there are a huge range of powerful levers our government could be pulling,” says author Dean.

“If we capture the moment we'll capture abundant benefits: creating tens of thousands of regional manufacturing jobs, reducing our dependence on raw resource extraction, reinforcing our accelerating transition toward non-polluting energy sources, and spurring innovation, research, and engineering activity in Australia. We just need our government to act.”

The full report is available at Rebuilding Vehicle Manufacture in Australia: Industrial Opportunities in an Electrified Future here.