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ABC News
ABC News
Business

Startups urge Australia to ditch 'risk-averse' approach to lithium battery investment

Battery companies say Australia needs to take risks to build sovereign battery manufacturing capacity. (ABC Illawarra: Tim Fernandez)

Renewable startups are urging state and federal governments to take greater risks by investing in small-to-medium sized renewable battery companies and prevent Australia missing out on the lithium boom.

A recent report by consulting firm the McKinsey Global Institute estimated that surging demand for lithium-ion batteries would see the sector grow from $126 billion to almost $600 billion by the end of the decade.

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