Australian Labor Party commits to $500 million in hybrid funding

With a federal election campaign winding up this week in Australia, the leader of the opposition Labor Party repeated his earlier commitment to providing incentives for local development and production of hybrid vehicles. Kevin Rudd has promised to provide up to A$500 million to Australian automakers starting in 2011 if they match it on a three for one basis. Current Prime Minister John Howard is opposed to the plan on the grounds that the government has already provided enough financial support to Ford, Mitsubishi, Holden and Toyota. The car-makers are not publicly commenting on the campaign .

[Source: Wards Auto World]