Mitsubishi was acting like the other big 3...that is
make as much money as you can and let the
State & Comm Govs derisk operations via
taxpayers billions of grants and concessions.
IMO, the trade unions advertently or inadvertently
subscribed to that.
The rational thing in a capitalist economy is that
governments should have taken equity in these manufacturers
in lieu of the grants. but of course we didn't and when the
remaining 3 pulled the pin we didn't even own the real estate.
In fact the taxpayer had to pay hundreds of millions supporting the
sacked workers and retraining them .
(source : The Conversation)
An example of silly Government subsidies to corporations is Qantas:
Qantas received $1.4 Billion taxpayers funds but still paid massive
salaries to execs while the Board approved of this behaviour. And now
that Qantas is turning a profit it is returning that to shareholders rather
than paying back the $1.4 Billion to Government.
Had the Government required equity in lieu of the $1.4 Billion, then
the taxpayer could now have its money refunded . And no doubt
if another corporation (too big to fail) gets into strife it will be
"play it again Sam..!"
But back to EVs and Hybrids:
The question is : How can Aus (not majority owned multinationals)
benefit from the transition to EVs"
I have laid out my plan above in the form of SEZs manufacturing high value
components exclusively for export thereby adding value to our energy and
minerals and sharing that benefit with all Aussies.
So what do others have to contribute...that is:
How can Aus and all Australians benefit from the auto transition to EVs?
