ACE EV receives boost with $5 million Federal grant
One of Australia’s newest automotive manufacturers, Australian Clean Energy Electric Vehicle Group (ACE EV), is on its way to bringing manufacturing back to Australia after receiving a $5 million grant in the Federal budget.
Launched in 2016, the MTAiQ client is looking to become the first company to sell Australian built vehicles since Holden ended local manufacturing in 2017, with its line-up of electric vehicles (EVs).
The funding was awarded by energy and resources minister Angus Taylor through the Future Fuels Fund, a $74 million fund introduced to advance hydrogen and EV charging and refuelling infrastructure in Australia.
As outlined in the budget, the $5 million grant has been earmarked for improving EV manufacturing capabilities, with the funds set to be put towards ACE EV’s $295 million assembly plant planned for Adelaide.
With Australia still lagging behind other countries when it comes to investing in EV technology and manufacturing, many global manufacturers have turned their back on bringing their latest EV models down under
However, ACE EV Founder Greg McGarvie was confident that the latest investment was a sign that the times were changing, and Australia was preparing to get serious about the technology.
“That $5 million is a pivot and shows there is a change in sentiment here in Australia,” said McGarvie.
“It gives us a bit of encouragement. Someone else thinks what we are doing is worthwhile. We know it is because it is the future.”
Plans are underway for ACE EV to introduce their first two models, the Yewt ute and the Cargo, by the end of 2021, with the company hoping to have 40 examples manufactured soon to begin bi-directional vehicle to grid charging trials.
The first ACE EV vehicles will come with a 30kWh lithium-ion battery pack, along with an 18kW e-motor, good for a range of 180kms.
ACE EV is aiming to manufacture as many as 20,000 vehicles per year once the new manufacturing facility is up and running.
Source: evcentral.com.au | Its Ace! Aussie EV pioneer hails $5 million federal grant
12 October 2020