From 2billion value to zero. Another major failure in EV marketplace

https://thedriven.io/2024/04/19/aust...dministrators/




Only one year ago the Prime Minister of Australia was raving about them, and using Tritium as the posterchild to sell his new $15 billion “National Reconstruction Fund” to “build sovereign capability”.

During his visit, the Prime Minister said, “This is my third visit to Tritium. Every time I come back, I hear about more revenue, more jobs being created, and more countries where Australia is exporting to. This is a great success story here and I congratulate everyone at Tritium for their achievements.”

Nick Bonyhady and Tom Rabe at The Australian Financial Review point at energy prices:

A Nasdaq-listed electric vehicle fast-charger company hailed first as a Queensland success story and then as a justification for government subsidies is the second major Australian manufacturer to collapse this week.

Tritium’s demise comes just days after Australia’s largest plastics producer, Qenos, was placed into administration, and as an industry chief warns that rising east coast gas prices will continue to threaten a range of domestic manufacturing across the country.

In 2021 Australia was the world’s largest exporter of LNG but in a quest for climate purity we’ve banned so many exploration sites, and pursued so many stupid energy options we are about to start importing gas.

” Gas industry leaders have labelled “bizarre” and unbelievable the likelihood that Australia could soon start importing gas.”

Daniel Mercer, ABC

Peter Tinley [MP] said it made no sense for states to ban the practice of fracking to develop onshore gas reserves while also allowing the import of offshore supplies that were exploited using the same method.

Victoria has banned fracking through legislation since 2017.

“I find it ironic that some jurisdictions ban fracking, for example, but will eventually be importing fracked gas,” Mr Tinley told the Australian Domestic Gas Outlook conference in Sydney. “How do you correlate that?