$532 million committed to National Battery Strategy, but no plan yet on how to reclaim supply chain

The government has released its National Battery Strategy , aiming to make Australia competitive in producing batteries.

The centrepiece of the strategy is $532 million in financial incentives for the production of batteries. Announced in the budget earlier this month, the funding would be spread over seven years and administered by the Australian Renewable Energy Agency . In a statement, Industry and Science Minister Ed Husic said Australia could become a "renewable energy superpower" by "moving beyond a 'dig and ship' economy".

The National Battery Strategy suggests the new funding will mean "Australian manufacturers can meet the growing demand for stationary energy provide more choice to consumers".While the National Battery Strategy does not mention China directly, it notes that "one country" dominates global processing and manufacturing of batteries.

Other nations are also moving to build up or protect their own battery-making capacity from China's dominance. The Future Made in Australia policy has similar aims to the US's Inflation Reduction Act, with battery production central to both schemes.

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