Green fund applications open
BY MARTON PETTENDY | 24th Apr 2009
Federal industry minister Kim Carr today announced the green-car fund, which will be offered on the basis of one dollar of government funding to three dollars of investment from the applicant, will be delivered under two streams.
Motor vehicle producers (MVP) will be able to apply for grants of $5 million or more, while grants of $100,000 or more will be available to other successful applicants.
The GCIF is a key part of the Rudd government’s New Car Plan for a Greener Future, a $6.2 billion 10-year automotive industry scheme that ends in 2020.
The government says it is designed to make the Australian automotive industry more economically and environmentally sustainable, but exactly what constitutes a ‘green’ vehicle development program remains unclear.
Toyota was the first Australian car-maker to receive GCIF money when the federal government last June pledged $35 million to produce the Camry Hybrid at Altona from early 2010.
GM Holden has since been awarded $149 for the small-car manufacturing program it announced in December, while Ford Australia, which in 2007 announced a similar plan to build the next-generation Focus at Broadmeadows from 2011, is also working on ways with which it will access the fund.
Senator Carr today said the fund would provide assistance on a co-investment basis over 10 years to design, develop and manufacture low-emission, fuel-efficient cars and components in Australia.
“This fund reflects the Rudd government's commitment to modern automotive manufacturing providing high-skill, high-wage jobs,” he said.
“It is about working in partnership with the industry to make it more creative, greener, more competitive, and more productive.
“The fund offers grants to help drive down vehicle greenhouse gas emissions and motoring costs for Australian families.
“It will support research, development and early stage commercialisation of green Australian automotive technologies.
“An important feature of the fund will be the ability to lodge applications at any time. This will provide applicants with the flexibility to meet their individual investment and decision-making cycles.”
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