Riding High: Lovells Defies Auto Industry Gloom with $5M Melbourne R&D Center
Lovells, a 90-year-old Australian suspension and towing solutions company, has invested $5 million in a new research and development facility in Melbourne, creating 25 new jobs and focusing on innovative technologies for electric and autonomous vehicles.
Despite the closure of major car manufacturing plants in Australia, the automotive industry continues to show signs of life. Lovells, an Australian suspension and towing solutions company, has opened a new research and development facility in Melbourne. The facility represents a $5 million investment and will create 25 new jobs. Lovells has been manufacturing automotive components in Australia for over 90 years.
The new facility will focus on developing suspension systems for electric vehicles and autonomous driving technologies. This investment comes despite the closure of major car manufacturing plants like Holden, Ford, and Toyota in recent years.
Lovells' Managing Director, James Lovell, emphasizes the company's commitment to local manufacturing and innovation.The facility includes advanced testing equipment, including a four-post rig for simulating real-world driving conditions.
Lovells exports its products to over 20 countries, showcasing the global competitiveness of Australian automotive manufacturing. The company sees opportunities in the growing electric vehicle market and aims to develop specialized suspension systems for these vehicles. This development highlights that while large-scale car manufacturing has ended in Australia, the automotive components and aftermarket sectors continue to thrive.
