Australia injecting 2.4b Dollars aid wrap into the car industry

Posted on Wednesday, 12 November 2008 , 15:11:45 byEmil

Filed under australiaaidpackageindustryFordGMToyota

Australia injecting 2.4b Dollars aid wrap into the car industry

The government in Australia announced it will give its domestic car industry a 2.4 billion Dollars (USD) kick, Kevin Rudd Prime Minister said. Only 3 car firms build automobiles actually in this country, 2 of which - General Motors and Ford - are seeking help as well from the US government.

Around 320,000 autos are built in Australia annually by Ford, Toyota and GM. “Some might say it’s not worth trying to have a car industry,” Rudd reported CNBC in Melbourne, the place where much of the auto industry is therfor headquartered. “That is not my view, it is not the view of the Australian government.”

The Prime Minister affirmed Australia would be outlaying 2.4 billion Dollars from 2011 up to 2020 transforming the industry, that includes money for “Green Car” fund created to help car firms design, selling a locally-build environmentally friendly vehicle.