This week’s commentary remains Australian focused, to commemorate our national day, but will touch on a subject we are extremely bullish about EVs and electrification in general. Australia has relied heavily on thermal coal for its energy, which is now being phased out as the switch to more environmentally friendly sources slowly continues. Instead of seeing this as a roadblock, we can embrace it as a reason to speed up. In fact, we believe Australia is ideally positioned to take a central role in the electrification trend, not only regionally but globally. The country has relevant resources -from lithium, to copper, cobalt, nickel, etc-, technology -from software to industrial-, capital, and business savvy, and if strategic foresight can be had to jump on, the future could not be any brighter.
EVs are at the heart of the transition towards a cleaner future, and if Australia supports this wholeheartedly, it could revolutionise the country and even go beyond its borders. Here’s where a wider consensus and action is required: a lot more needs to be done locally, including at the government level (including perhaps some sort of incentive, such as the one made available for solar panel ownership), infrastructure in terms of the charging network, as well as increasing EVs sold.
In terms of EVs adoption, Australia lags behind compared to most of the world, although there are more options available, which is progress. We hope soon we can all say that our next car will be electric.
And that is it for today. We’d love to hear your thoughts. Reach out on our social media channels and find additional resources here.
Happy Australia Day and see you next week!
The Weekly by Synergy: 5-minute musings on the markets, current trends, and events. From our opinions, observations, analysis, and news commentary, just a few lines to get you started every week.
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