Why New Zealand is looking at having a domestic hub akin to Tesla’s Gigafactory?

  • Jul 17, 2020 NZST
  • Team Kalkine

New Zealand, a small nation with over five million people, added a new feather in its cap last year, after passing ‘Zero Carbon’ law that seeks to reduce almost all greenhouse gas emissions to net-zero by 2050.

When it comes to emissions of biogenic methane, New Zealand is aiming to reduce emissions by 10% by 2030, and 24%-47% by 2050 under the bill.

As per Trans power New Zealand, a state-owned enterprise responsible for electric power transmission, the country could cover its electricity demand with a mix of renewables, growing to 95% in 2035 and 100% by 2050.

Interestingly, the country generates above 80% of its electricity from renewable sources and anticipates having more by 2035.

Furthermore, the government has already moved its fleet to electric vehicles (EVs) and is functioning to transition more extensive vehicle fleet towards EVs, too.

NZ government has an investment plan worth NZ$14.5 billion in place, which it would be spending throughout ten years into biking, transit and walking infrastructure.

Additionally, New Zealand is dedicated to?planting 1 billion trees?by 2028.

Zero Carbon Amendment Bill could build a global advantage to the nation as it can offer several benefits in addition to the transition to low emission and climate-resilient nation.

The bill would boost confidence of the businesses to invest and innovate in the existing and emerging low emissions technologies and thrive by outpacing competitors in a transitioning world.

Recently, workforce of New Zealand aluminium smelter got axed after following the news of the closure of a mining giant.

On 9 July 2020, the multinational conglomerate Rio Tinto unveiled its plan to wind-down and close New Zealand Aluminium Smelters (NZAS), known as Tiwai Point smelter, within 14 months.

In a statement to the Australian Stock Exchange/ London Stock exchange, NZAS said that the completion of a strategic review had “shown the business is no longer viable given high energy costs and a challenging outlook for the aluminium industry.”

Jointly owned by Rio Tinto and Japan’s Sumitomo Chemical Company Limited, the smelter employs over 1k personnel directly and supports an additional 1.6k indirect vacancies in Southland province.

According to a Southland entrepreneur, Nigel Broomhall Tesla’s Elon Musk might emerge as an answer to retainment of the jobs at Southland.

#NZ #Tesla #Investment #Kalkine


The video has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above video is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK