Australian automotive suppliers are invited to apply for a new round of grants meant to boost their competitiveness in global supply chains and domestic markets from the A$30 million ($31.3 million) Automotive New Markets Program.
The program's first round of grants provided 10 domestic suppliers with up to A$1 million ($1.04 million) each to help them develop new products, introduce new technologies and grow markets in Australia and overseas.
Applications for the new round of grants close April 19.
Federal Industry and Innovation Minister Greg Combet says the ANMP grants, funded by the Australian, Victorian and South Australian governments, encourage automotive supply-chain companies to diversify their customer base and product range, moving beyond their traditional markets.
“The ANMP will help ensure we continue to have a strong automotive supplier base to deliver innovative products for global and domestic markets,” Combet says in a statement. “This will ensure we maintain important automotive manufacturing capabilities in Australia at the scale necessary for a sustainable future.”
Combet says the grants demonstrate the three governments' commitment to the long-term sustainability of automotive manufacturing in Australia.
Victoria Manufacturing Minister David Hodgett says the auto industry is a critical driver of new technologies and skills for the country’s broader manufacturing sector.
“By supporting greater innovation in the automotive sector, the benefits will be shared with other key industries such as defense, aerospace and mining,” he says.
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