We do not know if LIT is seeking to build complete batteries yet or just parts and materials.
It is disappointing when good ideas are developed in Australia and end up moving or outsourcing overseas, or worse, sell out ideas overseas.
Car manufacturing is closing down around Australia, and our manufacturing ability is now in decline and makes it harder for our economy to handle a downturn or recession.
Governments might surprise everyone by trying to help new local manufacturing, such as large battery factories and possibly electric vehicles. It is likely to work in South Australia due to the close down of the Holden factory, and the willingness to support renewable energy.
You can not rule anything out in the lead up to an election. Most people want local jobs and manufacturing, and it can win local politicians some votes. Community and local government support appears to be strong for recently proposed battery factories in Darwin and north Queensland. Hence, lets see what happens.
If government makes it too hard and complicated, LIT can always just export or set up shop overseas.
LIT Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
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