Western Australia needs a dedicated strategy to grow the industry and reap the full potential of its battery minerals, processing and manufacturing capacity, technical expertise and research capability.
The rapid uptake of electric vehicles and battery-based energy storage systems across the world is driving global demand for lithium-ion batteries. Electric vehicle and battery manufacturers are securing sources of minerals, materials and components to meet this increase in demand. As these manufacturers are consolidating their supply chains, countries around the world are competing to capture investments at different stages of the production process.
Western Australia is well placed to seize this opportunity. It has the minerals, the expertise, the standards, the infrastructure and the research capability to become a key player of the global battery value chain. However, it is unlikely that Western Australia will move into further processing, the manufacturing of battery components and the assembly of energy storage systems without leadership from the State Government.
This leadership is needed now. The window of opportunity is limited in time. The rapid development of production capacity across the world is increasing competitive pressure and changes in future battery technologies are affecting the State’s competitive advantages.
The Future Battery Industry Strategy provides a framework with consistent, clear and coordinated actions that can be implemented immediately. It is necessary to ensure that all government agencies and external stakeholders work toward a common vision for the Western Australian future battery industry, in line with the State Government’s broader economic and environmental agenda.
The growth of the industry will be an important source of economic development, diversification, jobs and skills