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$150m R & D scheme for motor vehicle producers.



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Ian Macfarlane MP Minister for Industry, Tourism & Resources

13 July 2004

$150M R&D SCHEME FOR MOTOR VEHICLE PRODUCERS

From tomorrow Australia’s four local car makers will be able to apply for further research and development funding under the new Australian Government $150 million Motor Vehicle Producer Research and Development Scheme.

Federal Industry Minister, Ian Macfarlane, today declared “applications are open” for motor vehicle producers who are looking to invest in high-end R&D technologies.

The opening of the scheme coincides with tonight’s official opening of Toyota’s new corporate headquarters in Port Melbourne. Last year Toyota Motor Corporation announced it will establish a global R&D base in Melbourne.

The R&D Scheme is an integral part of the Government’s $4.2 billion post-2005 assistance package for the Australian automotive industry, providing the industry with a decade of investment certainty.

“The post-2005 package has a definite R&D or innovation emphasis because that’s where the Australian auto manufacturing strength lies. We are reliable producers of quality, innovative export goods,” said Mr Macfarlane.

“The introduction of this new scheme reinforces the Government’s commitment to give the industry the time and resources it needs to cement its future as an innovative international competitor,” he said.

The Motor Vehicle Producer Research and Development Scheme will offer up to $150 million in research and development assistance over the period 2006-2010.

It will be accessible to the Australian-based motor vehicle producers - Ford, Holden, Mitsubishi and Toyota.

“The scheme will be competitively based and successful projects will be rewarded a generous 45 cents for each dollar spent on eligible R&D,” Mr Macfarlane said.

“Projects funded under the scheme are expected to involve a diverse range of new and emerging technologies with resultant benefits such as vehicle weight reduction, fuel economy, emissions improvements, and improved vehicle safety,” he said.

For more information visit AusIndustry's website at www.ausindustry.gov.au or call the AusIndustry Hotline on 13 28 46. Kirsty Boazman Media Adviser for Ian Macfarlane Minister for Industry, Tourism & Resources 6277 7580 or 0412 171 444