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ACCC flags gas supply shortage; Jim Chalmers puts companies on notice

ACCC flags gas supply shortage; Jim Chalmers puts companies on notice

East coast gas prices are soaring on the back of a global energy crunch, which has been intensified by Western nations shunning Russian supplies of oil and gas to starve Moscow of the revenue it needs to fund the war in Ukraine.

Australia’s LNG exporters are earning record sales revenue while many local manufacturers are struggling under high domestic gas prices.

ACCC chair Gina Cass-Gottlieb said the consumer watchdog was “strongly encouraging” LNG producers to increase domestic supply or face market intervention.

“Our latest gas report finds that the outlook for the east coast gas market has significantly worsened. To protect energy security on the east coast, we are recommending the resources minister initiate the first step of the Australian Domestic Gas Security Mechanism,” she said.

The ADGSM empowers King to redirect exports into the local market. However, when gas prices took off following Russia’s invasion of Ukraine, Energy Minister Chris Bowen said the ADGSM was “not a short-term answer” because it required about six months of consultation and only triggered enough supply to fill gaps rather than cut the cost. gas.

“It is a supply trigger, not a price trigger,” he said.

Credit:Matt Golding

East coast gas producers export the majority of their supply to the lucrative international market, prompting warnings from the ACCC that domestic customers cannot be overlooked in favor of large, international buyers seeking long-term contracts.

The ACCC’s projected shortfall of 56 petajoules for 2023 is the largest it’s made since beginning its inquiry in 2017.

“LNG exporters are expected to contribute to the shortfall in 2023 by withdrawing 58 petajoules more gas from the domestic market than they expect to supply,” the report said.

“This could place further upward pressure on prices and result in some manufacturers closing their businesses, and some market exit has already occurred.”

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Australia’s east-coast gas producers on Monday disputed the suggestion that a shortfall was looming, pointing to the ACCC’s finding that 167 petajoules of gas remained uncontracted and would be offered to local buyers first.

“This is more than enough gas to ensure that no shortfall occurs,” said Damian Dwyer of the Australian Petroleum Production and Exploration Association, which represents oil and gas companies. “Gas customers can be assured supply will be adequate next year so households and businesses can continue uninterrupted.”

However, major gas users declared the ACCC’s latest report had yet again painted an “alarming picture” for businesses that depended on the fossil fuel.

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The Energy Users’ Association of Australia, whose members include ASX-listed fertilizer giant Incitec Pivot and building material supplier Brickworks, backed the government’s decision to initiate the first steps of the ADGSM, but feared it would “not be enough”.

“Energy users are looking for stronger action such as the ADGSM and heads of agreement triggers that not only ensure the volume of gas is sufficient but also seek to ensure the price of gas is affordable,” chief executive Andrew Richards said.

“It is time for governments and regulators to stop rattling the saber and to draw their sword. It seems clear that threatening the gas industry with stronger actions is not enough. It is only taking strong actions that will effect change.”

The ACCC’s report did not identify any wrongdoing but Chalmers said he encouraged the consumer watchdog to act if any anti-competitive behavior were uncovered in the future.

“It’s critical that our domestic gas supply is secure and competitively priced, particularly when households and businesses are under extreme pressure,” he said.

“The ACCC has raised concerns about the level of competition in this market, and I welcome its commitment to look into this and take enforcement action as required.”

Cut through the noise of federal politics with news, views and expert analysis from Jacqueline Maley. Subscribers can sign up to our weekly Inside Politics newsletter here.

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‘$15 beers’: biggest tax hike in 30 years paints sobering future for Australia’s ale drinkers | beer

Pour one out for Australia’s beer drinkers as the price of an ale at the pub surges up to $15 following the largest tax hike in more than three decades.

The Australian Tax Office announced the excise on beer would be lifted by 4%, or $2.50 more a liter on Monday under its CPI indexation review.

The Brewers Association of Australia said it was the biggest increase in more than 30 years to hit a market that was already taxed more than “almost any other nation”.

“We have seen almost 20 increases in Australia’s beer tax over the past decade alone,” CEO John Preston said.

“Sadly, we’re now seeing the impact as pub patrons will soon be faced with the prospect of regularly paying around $15 for a pint at their local.

“For a small pub, club or other venue the latest tax hike will mean an increase of more than $2,700 a year in their tax bill – at a time when they are still struggling to deal with the ongoing impacts of the pandemic.”

Australia’s excise on beer is adjusted twice a year according to inflation, which is growing at its fastest pace in more than two decades with a peak not expected until the end of the year. Wine operates under a separate taxation system.

A report by economist and University of Adelaide professor Kym Anderson AC, commissioned by the Brewers Association in 2020, found Australians paid the fourth-highest beer tax in the world compared with advanced OECD and EU countries.

Only Norway, Japan and Finland paid more.

The next highest-taxing countries were the United Kingdom and Ireland, but their rates were still about 30% lower than Australia’s between 2018 and 2020.

At $2.26 a liter of alcohol, Australians paid a whopping 18 times more than Germany, 15 times more than Spain, seven times more than the US and six times more than Canada. It also paid nearly double its neighbor in New Zealand.

In 2020-2021, the government received $2.5bn in excise and customs duty on beer, including draft and packaged beverages. The beer tax accounted for about 42% of the retail price of a carton of beer.

At the same time, Australians have been named the heaviest drinkers in the world – spending more time drunk than any other nation in 2020. And beer is a popular drop.

According to the latest ABS figures, beer accounted for 39% of the 191.2m liters of pure alcohol available for consumption around Australia in 2017-2018.

Preston said brewers and operators were “extremely disappointed” the former government didn’t reduce the beer tax in the March budget as was proposed, and called for beer tax relief prior to another raise in February 2023.

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Reason many Aussies are ditching supermarkets

Reason many Aussies are ditching supermarkets

Supermarkets are forcing many people to overspend, costing households an extra $1,200 each year, new research has revealed.

A survey of more than 2000 Australians found about two in five people frequently overspend their food budget and 82 per cent now splurge up to $200 on their weekly grocery shop.

The research, conducted by meal kit delivery service HelloFresh, also found 71 per cent of respondents were worried food items would continue to become more expensive.

Other key findings from the research found:

  • Ninety per cent of people are spending up to $100 per month on discounted impulse buys, while 88 per cent are doing the same for full-price impulse buys at the supermarket;
  • About two in five people frequently purchase discounted items they did not plan to buy; and
  • Three in five Australians are frequently traveling to multiple supermarkets to find all the ingredients they need for a meal.

The rising cost of food at supermarkets has led to some people turning to meal kit services.

Rebecca from Victoria told NCA NewsWire she used to shop at Coles and Woolworths, depending on which was closest to home or work on any given day.

“I would usually pop in multiple times throughout the week to get ingredients for dinner that night; I’d end up spending at least $40 every time I went into the supermarket, if not more,” she said.

“I switched to HelloFresh because I was getting tired of going through the same process every day when it came to thinking about dinner.

“I had to think about who’s around, what they’d want to eat and what I could be bothered making.

“Knowing that I wouldn’t have to do the mad dash to the supermarket after work was the biggest thing that made me swap to using HelloFresh.”

Rebecca’s partner has two children who are with them on weekends, so by making the move away from supermarkets, she says she is now saving about $100 per week.

HelloFresh chief executive and founder Tom Rutledge said his company offered a better value option for people wanting to save on dinner, while also saving time and reducing food waste.

“At this challenging time, it’s more important than ever that Aussies get the most out of their weekly food shop,” he said.

“As grocery prices go up and the cost of living continues to be a concern for Aussies, people are looking for better-value options for their groceries.

“We want to remind Aussies that there’s an alternative to shopping at the supermarket. By using HelloFresh, Aussies can save up to 24 per cent on the cost of dinner, while also saving time and food waste, with convenient home delivery and pre-portioned ingredients.”

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Real estate: Property investment firm under fire for ‘cringe’ email celebrating rising rent repayments

Real estate: Property investment firm under fire for 'cringe' email celebrating rising rent repayments

A property manager has come under fire after appearing to boast about upping rent in an email to tenants.

Property investment firm Ironfish sent an email to its customers last week stating the highest weekly increase and average rent increase in Melbourne in June.

“Achievement in June: Biggest rent increase – $225 per week,” the email states, before adding that the company leased 1,103 properties in the last financial year.

The email also includes two references, one from a landlord and another from a renter, which suggests there was no target demographic for the email.

A renter who received the email posted a screenshot to reddit, with the caption: “My rent just went up $400 a month and the agency sent me an email bragging about it.”

The email is accompanied with a photo of two young children jumping on a bed, having a pillow fight with smiles on their faces.

It’s caused a stir online, with both tenants and landlords disapproving of the email, and many left shocked after reading its contents.

“As an owner and provider that’s cringe. If my real estate (agent) boasted like that I’d be out,” one user said.

“I received the same email and had the same disgusted feeling, and I’m an owner (just not with them),” said another.

“That’s just disgusting. They are literally celebrating ripping off desperate people. It’s just deplorable,” a third commented.

Meanwhile others have raised concerns about how much the rent had increased by.

“Can they actually do that large an increase? I mean legally? What do they have in your lease on how it’s calculated? Fairly sure Tenants Victoria may have a bit more to say about it,” one user commented.

“How can a $225 rent increase be justified?” another user questioned. “Heck, even $98 is a lot.”

“So nuts. Ours tried to raise it by $90 a month which I thought was ridiculous and we just said no and they agreed to stay the same if we signed a 12-month lease,” another said.

News.com.au has contacted Ironfish for comment on the email.

According to Consumer Affairs Victoria, landlords are not allowed to increase rent during a fixed-term agreement unless stated otherwise, and have to give tenants at least 60 days’ notice.

The law doesn’t state how much a landlord can increase weekly repayments by however it should be changed in line with the consumer price index, average rent prices, by a fixed percentage or by a fixed dollar amount.

Renters also have the right to challenge their increase if they believe their repayments have been raised too high.

Despite the sharp increase stated in the email, data from CoreLogic suggests Melbourne has the cheapest rental market with a typical home costing a renter $480 a week.

The rising cost of living, low vacancy rates and increasing interest rates are some of the reasons why landlords are choosing to hike weekly rent repayments.

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Australian Country Choice: 1500 jobs at risk as company eyes interstate move over development drama

Australian Country Choice: 1500 jobs at risk as company eyes interstate move over development drama

More than 1,500 Queenslanders could lose their jobs as casualties of a heated dispute over a waterfront development in Brisbane.

Queensland meatworks operation Australian Country Choice (ACC) announced it was considering moving its sizeable operations interstate as it fights for the future of its meat processing facility in Cannon Hill.

The family business, led by billionaire Trevor Lee, has launched a legal appeal against the Brisbane council’s decision to approve two businesses in the Rivermakers precinct developed by BMI Group.

The ACC argued the proposed businesses would be located in an industrial buffer zone that prohibits using land for retail or restaurant activities.

The Queensland government intervened in the ongoing dispute between the two heavyweights by placing a temporary injunction on council approvals in the Morningside area, but the ACC said the move didn’t go far enough.

The meatworks business announced on Monday that it was considering moving its operations to NSW as it looked to “assess all viable options for the future”.

“Our preference would be to keep operating from our existing Brisbane premises which are world class, but that requires long-term planning certainty so we can continue making the necessary investment in our current operations and commit to a planned expansion down the track,” an ACC spokesperson said.

The family-run agriculture company is one of the largest primary production employers in the country, with 1,500 employees and plans to create a further 300 jobs.

“Supporting and growing our employee base is a top priority,” the ACC spokesperson said.

“We would prefer these jobs remain in Queensland, but without planning certainty we can’t make a long-term commitment.”

The ACC spokesperson said preliminary discussions are focused on locations in northern NSW for ease of cross-border access.

The Australasian Meat Industry Employees’ Union (AMIEU) said in a statement it was “deeply concerned” by the possible move, noting the meat processing facility had been “an important source of employment” for more than a century.

“If Australian Country Choice is forced to move, the impact upon meat workers and their families will be devastating,” Queensland branch secretary Matt Journeaux said.

The union said the encroachment of the commercial development on the abattoir site presented a serious threat to the “critical industry” of meat processing and the 1000 people employed at the ACC facility.

“It is inevitable that this will lead to complaints about the ongoing operation of the abattoir,” Mr Journeaux said.

“I can’t imagine too many people enjoying an outdoor dining experience in their new lifestyle hub with cattle trucks driving past.”

The AMIEU called on the Brisbane City Council and the state government to provide a long-term commitment to the ACC to allow the company to continue to invest in the abattoir and its employees.

The council has indicated it will abide by the temporary injunction and is working with businesses in the contentious waterfront development to ensure compliance.

The developer of the multimillion-dollar Rivermakers precinct, BMI Group, has been contacted for comment.

The ACC spokesperson confirmed the two businesses were not involved in mediation in relation to the dispute.

Read related topics:Brisbane

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Flight AB 001 makes history at Sunshine Coast Airport

Flight AB 001 makes history at Sunshine Coast Airport

Bonza’s first aircraft has touched down at Sunshine Coast Airport, landing a massive coup for our region.

In one of the largest launch announcements in Australian aviation history, Sunshine Coast Airport in February was named as the first Bonza base and head office location for the nation’s only independent carrier.

The arrival of the first aircraft, which left Seattle on July 29, flew to Honolulu July 30 and then left Fiji Monday morning, marks a major milestone for the company and supports its ongoing momentum with the regulatory process.

It is the first Boeing 737 MAX to be based in Australia and will be part of a fleet of brand new and fuel efficient aircraft.

They will cater for Aussie travelers flying to an initial 17 destinations on 27 routes.

Destinations soon to be available for Coast residents are: (Queensland) Cairns, Townsville, Mackay, the Whitsundays Coast, Rockhampton; (NSW) Coffs Harbour, Port Macquarie, Newcastle, Albury, Tamworth; (Victoria) Melbourne, Avalon and Mildura.

Bonza, which hopes to be wheels up by late September, has 200 pilot and cabin crew roles to fill across its network, with 100 of those “Legends” to be based on the Sunshine Coast.

Bonza CEO Tim Jordan said the company was “beyond excited” to welcome its first aircraft to Sunshine Coast Airport.

“With so much buzz around the country for Bonza, we hope it is also exciting for the communities we’ll be flying to,” he said.

“Our team of legends has been working hard behind the scenes to reach this significant milestone and so it was important that we were all here to welcome flight AB 001 together.

“We are now one important step closer to connecting more Australians with convenient low cost travel options to more destinations for holidays and to visit loved ones.”

The aircraft will have its interior completed on Aussie shores. It will be used as a spare aircraft, a clear investment in customer experience and part of Bonza’s strategy to minimize potential disruptions to its customers wherever possible.

Additional aircraft will follow and ultimately support Bonza’s growth plans beyond its initial Sunshine Coast and Melbourne bases.

The first Bonza aircraft arrives at its home base on the Coast.

“This is an exciting time for Australian aviation and most importantly, the Aussie traveling public who will now enjoy more choice,” Mr Jordan said.

“Ninety three per cent of Bonza’s routes are currently not serviced by another airline (25 out of 27 routes) and 96 per cent are not currently served by a low-cost carrier,” he said.

“Flights are expected to start from around $50 for each hour a customer is in the air and 8kg of carry-on baggage is included in the flight price.”

Sunshine Coast Airport CEO Andrew Brodie said the arrival of Bonza’s first aircraft on the Sunshine Coast was “a momentous day for the region”.

“We are very proud to be named as the home base for Bonza,” he said.

“Our partnership with Bonza will benefit the region, state and community, connecting more people to more places, bringing them closer to the moments that matter most.

“The arrival of Bonza is a game changer for the Sunshine Coast that will create more local jobs and spearhead tourism and business growth across the wider region.”

Cabin crew will be wearing casual and hip uniforms.

Earlier this month, Bonza announced its IATA code as ‘AB’ as a nod to Andrew Brodie and his team who welcomed Bonza to the Sunshine Coast as its home base. It also represents Bonza’s mission of getting customers from A to B without C (cost and complexity).

Aussies are encouraged to download the Fly Bonza app, which will be the only place to book directly.

The airline is also calling out for Aussies to help name the plane by asking them to comment on Bonza’s social media pages with their nicknames.

“Who better to name our first aircraft than the people we are here to serve. If you have a nickname that would look good on the side of our first aircraft, head to our Instagram and Facebook pages and let us nick your nickname,” Mr Jordan said.

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Elon Musk’s dad Errol Musk gives savage Kyle and Jackie O interview

Elon Musk's dad Errol Musk gives savage Kyle and Jackie O interview

Elon Musk’s 76-year-old father has given a stunning interview to Australian radio, taking aim at his tech billionaire son and opening up about his controversial relationship with his 34-year-old stepdaughter.

South Africa-born and based Errol Musk, who has seven children including two with his stepdaughter from a second marriage, Jana, spoke with KIIS FM’s Kyle and Jackie O this morning in a bizarre 20-minute interview, in which he dismissed his son’s success .

“Your offspring is a genius. He’s worth so much money and has created so many things, you can’t take that away from him. Are you proud? Jackie O asked.

“Nope. You know, we are a family that have been doing a lot of things for a long time, it’s not as if we suddenly started doing something,” Errol replied.

Elon is his eldest son with his ex-wife, model Maye Musk, who joined the Tesla CEO at the Met Gala this year. Maye and Errol also share are Kimbal and daughter Tosca.

Errol said his billionaire son feels as though he is running behind schedule in his career achievements. The father agreed with that sentiment.

“He is frustrated with progress and it’s understandable,” he said.

“I know it sounds crazy, but we tend to think like that as a family. He’s 50 now and I still think of him as a little boy. But he’s 50, I mean he’s an old man.

He went on to sledge his son’s body and diet while discussing recent shirtless photos of Elon on a yacht in Greece.

“Elon is very strongly built but he’s been eating badly,” he said, adding that he’s recommended a supplement called garcinia cambogia, which supposedly aids weight loss without additional exercise or dieting, to his son.

Jackie O then asked if the South African engineer drove a Tesla, to which he replied he instead drove a Bentley, Rolls Royce and Mercedes. He then told the hosts it was Elon’s younger brother Kimbal who was his “pride and joy” about him.

Asked about marrying his 34-year-old stepdaughter Jana Bezuidenhout – who he had raised since she was four and now shares two young children with – Errol said the relationship was “completely normal”.

Last month, the 76-year-old revealed he had had a daughter with Ms Bezuidenhout in 2019, a year after they had their first child, Elliot Rush, now aged five. The children do not live with their biological father, with Errol telling The Sun they “get on their nerves” when they visit.

He refused to rule out having even more children, however, saying: “The only thing we are on Earth for is to reproduce.”

According to The SunElon finds his dad’s relationship with Jana “creepy”.

Recently, it emerged Elon welcomed twins last November with a senior executive at one of his companies, 36-year-old Shivon Zilis.

The twins were born just a few weeks before Musk had a second child via surrogate with his on-off girlfriend, Canadian pop star Grimes.

The father-of-nine also has five children with his first wife, Canadian author Justine Musk.

Read related topics:Elon Musk

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Woolworths supermarket shoppers’ disturbing act with Quilton toilet paper captured in new TikTok video

Woolworths supermarket shoppers' disturbing act with Quilton toilet paper captured in new TikTok video

Two Woolworths customers have created controversy over their treatment of a toilet paper display at one store.

Posting on TikTok, the two shoppers shared footage that showed one of them crashing through a neatly stacked pile of Quilton Toilet Paper.

Watch the controversial Woolworth toilet paper video above

For more Food related news and videos check out Food >>

The video shows one of the customers setting up his phone – which was recording the incident – inside a Woolworths freezer, situated opposite the toilet paper section.

While he held the freezer door open, the camera shows his friend emerging from behind the row of toilet paper packs.

The video starts with the camera pointed at the toilet paper display at one Woolworths store. Credit: TikTok

Crashing through the display, the shopper’s actions sent the stack of toilet paper falling to the ground.

The shoppers can then be seen smiling and dancing for the camera, as the packs of Quilton lie in disarray.

With toilet paper still in limited supply for some supermarket shoppers around Australia, a video showing packs being mistreated is sure to infuriate many.

Customers have taken to social media in recent weeks to complain of ongoing shortages.

“Can someone please explain why there is no toilet paper yet again?” said one Woolworths customer on Facebook.

One prankster can then be seen emerging from behind the rows of toilet paper packs. Credit: TikTok

“I have been trying for four weeks now to get toilet paper, going into the store twice a week. This is getting ridiculous!”

The incident is reminiscent of a similar incident in June 2021 which saw a female Woolworths shopper jump onto a pallet of toilet paper packs.

“She needs to be thrown out of the store,” said one TikTok user at the time.

“Pathetic,” added another.

Write a third: “Do you feel cool now?”

The shoppers then smile and dance for the camera, as the toilet paper packs lie in disarray. Credit: TikTok

Woolworths truck driver’s ‘amateur’ act.

Woolworths truck driver’s ‘amateur’ act.

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Five V’s big miss! Marketing tech business Metigy hits the skids

Five V's big miss! Marketing tech business Metigy hits the skids

Metigy was founded in 2015 by David Fairfull and Johnson Lin, and was named by combining the name of the Greek goddess of wisdom and thought Metis with the word strategy.

It was set up to provide small business clients with an artificial intelligence-fueled platform that could provide insights on their potential customers for marketing purposes.

A recent presentation from one of its investors said Metigy had grown revenue at more than 300 per cent in both the 2020 and 2021 financial years, and had more than 25,000 clients across 92 countries.

Investors used Metigy to show the strength of their pre-IPO investment portfolios.

Metigy has more than 30 shareholders, according to documents lodged with the corporate regulator, with the biggest investors including its founders and their associates.

However, the company picked up capital from a raft of institutional investment firms in recent years including Adrian MacKenzie and Srdjan Dangubic’s Five V Capital and Thorney Group.

$1b valuation

Five V, for example, invested $2.5 million in 2020 and another $5.3 million last year. The manager talked up Metigy’s prospects as an Australian technology sector unicorn with a valuation at $1 billion, according to a presentation given to its investors in May.

Such a valuation implied a 10-times money gain for Five V and a 508 per cent return on an IRR basis (all unrealised). That’s all looking uncertain, given Metigy’s administration. Other investors were much more cautious, carrying Metigy on their books at $500 million or less at June 30.

Investors including Five V and Thorney landed on Metigy’s share register as its backers spoke openly about targeting a float on the ASX, saying it could happen from 2022.

It is not known what prompted last week’s call to the administrators on Friday night, however investors were scrambling for answers come Monday. Staff were also dumbfounded.

The situation comes amid a stark change in fundraising conditions for private and public technology companies, both in Australia and offshore.

An inability to raise capital has sent others to the wall, including fintech Volt Bank which returned more than $100 million deposits to customers in late June and is now seeking a buyer for its assets.

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Cadillac Lyriq: review, pricing, specifications

Cadillac Lyriq: review, pricing, specifications

This is the car that will spearhead a new assault on world markets for the famed Cadillac brand.

The Lyriq electric SUV will form the foundation for a Cadillac return to Europe and other markets – potentially including Australia.

A mid-sized SUV similar in size to BMW’s X3 and Audi’s Q5, the Lyriq’s a handsome looking thing in the metal. It has a long bonnet, muscular haunches and daring detail work on the headlamps, grill and tail lamps.

The door handles fold flush with the door panels – much like Tesla’s Model Y – and the cabin is dominated by a huge curved digital screen that houses a driver display and center touchscreen.

Bright chrome highlights lift the cabin and there’s an abundance of storage space, thanks to the fact that there’s no transmission tunnel running through the center of the vehicle.

Second-row passengers will find more leg and knee room than they would in a mid-size German luxury SUV, while the read load area is a decent size.

It’s on the road that the Lyriq impresses, though.

A 250kW rear-mounted electric motor moves things along swiftly and silently, although there’s not the brutal launch off the line that you’d feel in a Tesla Model Y.

Once you’re on the move, though, there’s an impressive surge at most speeds when you floor the throttle.

The venue for our brief test drive was GM’s huge Milford Proving Ground outside of Detroit and we put the Lyriq through its paces on a variety of surfaces designed to replicate public roads. That included large bumps and dips, a simulated rail crossing and some sweeping, high-speed corners.

The Cadillac impressed with its composure, setting well after larger bumps and sitting flat through corners, even when confronted with broken, corrugated bitumen.

Precise steering and reassuring grip add to the driving enjoyment, although you can feel its considerable weight shift when it is asked to change direction in a hurry.

Cadillac claims the Lyriq is good for a range of 500km, although that may come down once the more realistic WLTP standard for range is applied.

In the US, the Lyriq starts from $62,990 in rear-drive form. A dual-motor version will launch early next year with roughly 370kW of power for just $2000 extra.

GM won’t confirm whether the Lyriq will be available in right-hand-drive but it would appear likely, as it seems the most logical fit for a Cadillac rebirth in European and international markets.

The president of GM International, Shilpin Amin, says designing vehicles for either left or right-hand drive is “much more simple” on an electric vehicle platform.

“Because of how efficient it is to build it upfront with left and right-hand-drive markets in mind no longer do you need the volumes to justify it. You can actually do it pretty efficiently at all volumes for markets around the world,” he says.

That is encouraging news for Aussie Cadillac fans.

Christian Soemmer, managing director of GM strategic markets, alliances and distributors, says the brand has “ambitious goals” in overseas markets, including Australia.

“We want to grow our international scale. Australia and New Zealand is an absolute key pillar of that region. We are always looking into more opportunities,” he says.

Cadillac will lead GM’s transformation to a leading EV maker, taking the fight to Tesla.

It will not launch any new petrol vehicles after 2026 and will become EV-only by 2030.

Cadillac interior design manager Tristan Murphy said the shift in focus to electric cars gave the design department an opportunity to reimagine the once-storied brand.

“I think it was a good opportunity for us to take a step back and say OK as we move forward into the future what do we want Cadillac to be? It was a chance to reinvent it,” he says

The design team was also mindful of its duty to honor the heritage of the badge.

“I don’t want to say it’s retro by any means but there are some retro cues because there are some things in our history that we want to hold on to. There are these little winks and nods at our history because that is something that an EV Start-up company doesn’t have,” he says.

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