tommy
11-06-2008, 03:39 PM
Might be time to start snapping up some lithium stocks in the months ahead...
Rudd confirms $35m Toyota hybrid deal
Posted Tue Jun 10, 2008 11:02am AEST
Updated Tue Jun 10, 2008 1:46pm AEST
Australian-made hybrid: Kevin Rudd at the Toyota plant in Japan today (AFP: Kazuhiro Nogi)
Prime Minister Kevin Rudd has confirmed that Japanese car-maker Toyota will start building four-cylinder hybrid versions of its Camry model at its factory outside Melbourne.
Mr Rudd made the announcement at Toyota's global headquarters in Nagoya, Japan, alongside the company's president, Katsuaki Watanabe.
The Federal Government will allocate $35 million from its Green Car Innovation Fund to support the move, which will produce up to 10,000 of the petrol-electric cars each year from 2010.
The Victorian Government will also make a financial contribution to the project.
Mr Rudd says the Government is talking to all Australian car-makers about building more environmentally-friendly cars.
"What we have here is an important underpinning technology which we will now have manufactured in Australia," he said.
Mr Watanabe says it is too early to know how many jobs will be created.
Victorian Premier John Brumby says it is great news for the industry, motorists and the environment.
"It gives Australian families the option, in the face of rising petrol prices, to buy a locally-made hybrid," he said.
'Start of major change'
Federal Industry Minister Kim Carr has told ABC's The World Today program the hybrid car deal signals the start of a major change in the Australian automotive industry.
Senator Carr said discussions with Toyota Australia began in December last year, just after the government was sworn in.
"There is some 200 new jobs expected to be created in the initial period, but the long-term advantages are quite significant in regard to the transformation of the industry," he said.
"This is a very significant step forward and I've got no doubt the other motor companies will follow suit in transforming their existing technologies in the introduction of new technologies.
"There is a potential here to expand in this segement of the market quite significantly and quite quickly," he said.
"There is no doubt that these cars are more expensive than a conventional car but their fuel savings are quite considerable."
The news is a boost for the automotive manufacturing industry following Holden's announcement last week it would be cutting 500 jobs in Victoria.
The Victorian and Federal governments have both committed to purchasing the hybrids for government fleets.
Federal Opposition industry spokesman Eric Abetz says the announcement is good news for Australian jobs and the environment but has questioned the way the Government has handled the announcement.
He says he particularly wants to know if the deal that has been done with Toyota was also offered to other car companies, including Holden and Ford.
"It seems as though Toyota may well have been offered this money to secure a photo opportunity for the Prime Minister in Japan," he said.
"Of course that is another indication of the Rudd Government's making policy on the run and what it also does is once again pre-empt the Bracks Review into the automotive industry."
"Whether deals were made as to whether the Government would purchase a number of these vehicles for the Government car fleet, there are still a number of questions to be answered," he added.
"I invite Mr Rudd to come clean, be transparent and open as he promised and not to be picking winners and favourites as it seems they've been doing."
Industry reaction
Of the 1 million cars currently sold each year in Australia, about 5,000 are hybrids.
The Federal Chamber of Automotive Industries says the hybrid car initiative is one of the most significant industry developments in years.
The chamber's chief executive, Andrew McKellar, says the deal demonstrates the capability of local car makers to help address environmental challenges.
But a transport industry group says hybrid cars will not fix Australia's long-term reliance on fossil fuels.
The Tourism and Transport Forum's Stewart Prins says hybrids are a good bridging technology, but the Government needs to focus on finding long-term solutions.
"Until we have that long-term direction there's going to be the ongoing suspicion that support for a green car is just protectionism in green clothing," he said.
"We need a co-ordinated strategy that links together investment in public transport infrastructure and also speeds up the transition to low emission like hybrids and the next generation of zero-emission vehicles."
Australian Democrats leader Lyn Allison says the announcement is good for manufacturing in Australia.
"However I would say that a Camry is still a very large car and it would have been better for Australia to go down the path of ... smaller lighter vehicles because they are the ones that are the most fuel-efficient," she said.
Rudd confirms $35m Toyota hybrid deal
Posted Tue Jun 10, 2008 11:02am AEST
Updated Tue Jun 10, 2008 1:46pm AEST
Australian-made hybrid: Kevin Rudd at the Toyota plant in Japan today (AFP: Kazuhiro Nogi)
Prime Minister Kevin Rudd has confirmed that Japanese car-maker Toyota will start building four-cylinder hybrid versions of its Camry model at its factory outside Melbourne.
Mr Rudd made the announcement at Toyota's global headquarters in Nagoya, Japan, alongside the company's president, Katsuaki Watanabe.
The Federal Government will allocate $35 million from its Green Car Innovation Fund to support the move, which will produce up to 10,000 of the petrol-electric cars each year from 2010.
The Victorian Government will also make a financial contribution to the project.
Mr Rudd says the Government is talking to all Australian car-makers about building more environmentally-friendly cars.
"What we have here is an important underpinning technology which we will now have manufactured in Australia," he said.
Mr Watanabe says it is too early to know how many jobs will be created.
Victorian Premier John Brumby says it is great news for the industry, motorists and the environment.
"It gives Australian families the option, in the face of rising petrol prices, to buy a locally-made hybrid," he said.
'Start of major change'
Federal Industry Minister Kim Carr has told ABC's The World Today program the hybrid car deal signals the start of a major change in the Australian automotive industry.
Senator Carr said discussions with Toyota Australia began in December last year, just after the government was sworn in.
"There is some 200 new jobs expected to be created in the initial period, but the long-term advantages are quite significant in regard to the transformation of the industry," he said.
"This is a very significant step forward and I've got no doubt the other motor companies will follow suit in transforming their existing technologies in the introduction of new technologies.
"There is a potential here to expand in this segement of the market quite significantly and quite quickly," he said.
"There is no doubt that these cars are more expensive than a conventional car but their fuel savings are quite considerable."
The news is a boost for the automotive manufacturing industry following Holden's announcement last week it would be cutting 500 jobs in Victoria.
The Victorian and Federal governments have both committed to purchasing the hybrids for government fleets.
Federal Opposition industry spokesman Eric Abetz says the announcement is good news for Australian jobs and the environment but has questioned the way the Government has handled the announcement.
He says he particularly wants to know if the deal that has been done with Toyota was also offered to other car companies, including Holden and Ford.
"It seems as though Toyota may well have been offered this money to secure a photo opportunity for the Prime Minister in Japan," he said.
"Of course that is another indication of the Rudd Government's making policy on the run and what it also does is once again pre-empt the Bracks Review into the automotive industry."
"Whether deals were made as to whether the Government would purchase a number of these vehicles for the Government car fleet, there are still a number of questions to be answered," he added.
"I invite Mr Rudd to come clean, be transparent and open as he promised and not to be picking winners and favourites as it seems they've been doing."
Industry reaction
Of the 1 million cars currently sold each year in Australia, about 5,000 are hybrids.
The Federal Chamber of Automotive Industries says the hybrid car initiative is one of the most significant industry developments in years.
The chamber's chief executive, Andrew McKellar, says the deal demonstrates the capability of local car makers to help address environmental challenges.
But a transport industry group says hybrid cars will not fix Australia's long-term reliance on fossil fuels.
The Tourism and Transport Forum's Stewart Prins says hybrids are a good bridging technology, but the Government needs to focus on finding long-term solutions.
"Until we have that long-term direction there's going to be the ongoing suspicion that support for a green car is just protectionism in green clothing," he said.
"We need a co-ordinated strategy that links together investment in public transport infrastructure and also speeds up the transition to low emission like hybrids and the next generation of zero-emission vehicles."
Australian Democrats leader Lyn Allison says the announcement is good for manufacturing in Australia.
"However I would say that a Camry is still a very large car and it would have been better for Australia to go down the path of ... smaller lighter vehicles because they are the ones that are the most fuel-efficient," she said.