Motor Vehicle Industry Benefits From R&D Grants

Five Australian automotive Research & Development projects have been chosen as the first successful recipients of $41.36 million of assistance under the Australian Government’s Motor Vehicle Producer Research & Development Scheme.

The Toyota Tech Centre, which is part of the company’s goal to capture 15 per cent of the global vehicle market in the decade starting 2010, has been supported with the offer of $5.56 million for a software development project.

“All five projects announced today cover areas crucial to the industry’s development including those with an environmental focus such as fuel economy and emissions improvement, and safety systems,” said Mr Macfarlane, the Federal Government Minister responsible for the scheme.

The R&D support scheme is worth $150 million, an indication of Australia’s determination to give the industry the time and resources it needs to cement its future as an innovative international competitor. It is all part of the Government’s $4.2 billion post-2005 industry assistance package.

The specific projects are-

• Ford Motor Company of Australia, $27.98 million for its State of the Art Engine Initiatives;
• Holden Limited, $4.81 million for its Fuel Economy and Emissions Improvement project;
• Holden Limited, $1.94 million for its Smart Architecture Development project;
• Holden Limited, $1.07 million for its Safety and Intelligent Systems project;
• Toyota Motor Company of Australia, $5.56 million for its Software Development Project Phase 1.

For information on this article, or on any other aspect of the Australian economy or business opportunities available, please email me.

David
editor@agarcarlyon.com