Australia’s government announced that it will be giving its domestic auto industry a $2.4 billion (USD) kick, Prime Minister Kevin Rudd said today. Only three car companies actually build automobiles in the country, two of which – Ford and General Motors – are seeking aid from the United States government, as well.
About 320,000 cars are built annually in Australia by Ford, GM and Toyota .
“Some might say it’s not worth trying to have a car industry,” Rudd told CNBC in Melbourne, where much of Australia’s automotive industry is headquartered. “That is not my view, it is not the view of the Australian government.”
The Prime Minister said Australia would outlay $2.4 billion from 2011 to 2020 to transform the industry, including money for a “Green Car” fund designed to help automotive companies design and sell a locally-made, environmentally friendly car.
