
UK-based billionaire Sanjeev Gupta is looking to buy equipment from and use part of the old Holden factory in South Australia to create an electric vehicle production line in what would be a remarkable transformation of Australia’s car industry and economy.
Gupta, whose GFG Alliance last year bought the OneSteel business in Australia with a view to powering the Whyalla and other steelworks with renewable energy and storage, has the backing of the South Australia government, keen to support what it sees as the “inevitable” transition to EVs.
The proposal to buy the disused GM assets would be a partial reprise of the Tesla story in California, which used an old factory in Fremont, once jointly owned by GM and Toyota, to launch its Tesla Model S electric vehicle.
Any EV production plant at GM’s former operations in Elizabeth, north of Adelaide, would likely source steel from Gupta’s newly acquired steel operations, and use renewable energy supplied by its newly merged SIMEC Zen energy business.
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Gupta has insisted that supplying the Whyalla steelworks with renewable energy – solar, pumped hydro, battery storage and demand management – is critical to reverse its fortunes of the ageing Whyalla steelworks and make it profitable.
The plan is a direct rebuttal of claims that renewable energy would be the death of manufacturing and energy intensive businesses in Australia. Numerous big energy users are now turning to wind and solar to slash their electricity costs.
Gupta intends to take the same model to his even more energy intensive operations in Victoria and NSW, which he also bought as part of the OneSteel package.
Gupta has teamed up with Zen Energy, now SIMEC Zen, to provide electricity to the South Australia government pending the construction of the new solar tower and storage facility in Port Augusta. SIMEC Zen’s contribution will be renewable once its new solar plants and storage are built.
Continue reading “Breakout Year (again): Renewables Plus Storage are Here”


