Australian Startups Are Leading Electric Vehicle Innovation
Allied Legal has been working with energy startups, alongside its recent come-up. Over the past years, the advancement of electric vehicles has been a dominating media topic, from Elon Musk’s Tesla to the announcement of a new Apple collaboration. Though the movement is still in its infancy, the environmental benefits and pull of cheaper running costs makes electric vehicles or ‘EV’s’ hot commodities.
Despite recent media attention, the electric car is not new technology. In fact, EV’s have been around for around a century, with early electric cars surpassing petrol models in terms of popularity. However due to advances in combustion engines, which proved advantageous at the time, the production of electric vehicles was halted. It wasn’t until 2008, with the launch of Tesla Motor Company, that the ‘electrification’ movement was reinvigorated.
Ever since nations including Australia, owing to the countries’ lucrative supply of lithium, are opting for the electric alternative, steadily increasing the number of businesses and startups contributing to its boom. In 2020 Australian startup ACE EV was given a five million dollar funding boost to assist their EV roll-out in 2021. The startup uses advanced technology, specialised production, and guarantees zero-emissions with their range of Australian made light commercial vehicles.
Not only are Australian startups producing electric vehicles, they are also developing innovative technology to accompany the transition from oil to electricity. Australian startup – Tritium, for example, focuses on producing fast and convenient charging stations. The Australian startup is anticipating that growth – particularly in the European market – will accelerate in the upcoming years, with more electric vehicles entering the market. Melbourne startup Chargefox is another startup providing ‘ultra-fast’ charging stations across Australia. The startup partners with businesses, to install electric vehicle chargers and systems. The startup even offers an app through which electric car drivers are able to locate charging stations nearby.
According to Tracxn there are nearly 100 electric vehicle startups in Australia. This number is set to take-off in the upcoming years with the progression of new technology. This spells an exciting time for the electric vehicle startup scene in Melbourne and throughout Australia.
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