Australian startups get government support

The Victorian government will provide investment to new manufacturing plants to change the future of electric vehicles (EV) motors.

Kite Magnetics was founded in 2021. Dr. Richard Parsons, CEO, jointly developed its temporary nano -crystal motion/generator core technology that has temporarily obtained patented patented. The technology is Aeroperm, located in Monash, Melbourne University.

Initially, considering the development of aerospace, aviation is said to be an ultra -efficient material for the lighter, more compact and more efficient motor for vehicles.

Smaller motors means smaller electric battery batteries, so it reduces weight, which will lead to a larger driving range.

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Although the kite magnet has received the support of many leading venture capital companies including the Victoria 2B Sovereign Fortune Fund, it has now received extra support from the state government and uninterrupted support.

This includes investing in the new high -end manufacturing plant in Melbourne, claiming not only helps to accelerate the development and manufacturing of the production of aviation equipment, but also creates more than 140 high -skilled jobs and up to 550 indirect work.

Kite Magnetics claims that by 2029, the facility will allow it to increase the annual aviation production to 50,000 tons, which will not only affect the local economy, but also bring greater benefits to the automotive industry.

This news is the prosperity of Australian companies in the quality production landscape of the automotive industry.

Last year, WalkinShaw Automotive Group was the parents of the existing Holden special vehicle-in a new location of Dandenong South, Melbourne, and planned to accommodate 100,000 square meters of factories by the end of 2025.

This will be a new home for the re -manufacturing plan for GM’s right -handed drives such as GM and Toyota, and it has also built cars through its new era brand, and operated a competitive supercar team in WalkinShaw Andretti United.

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