Geelong-based Carbon Revolution, a specialist producer of one-piece carbon-fibre wheels, has announced a $100 million expansion plan.
The move, which is backed by substantial investment in manufacturing from the Victorian state government, will create 500 new jobs – tripling the size of the firm’s workforce.
The expansion will also substantially increase the company’s production output, which is slated to rise from 10,000 wheels per year to in excess of 150,000.
To facilitate this, Carbon Revolution will build a new production site alongside its existing research and production plant at Deakin University.
Premier Daniel Andrews, speaking at the announcement of the company’s expansion, said: “This is yet another massive vote of confidence in Geelong – these are hi-tech, secure jobs that will help the local economy.”
Carbon Revolution, which was founded in 2004, focuses solely on the testing, design and production of lightweight carbon-fibre wheels. It was the first company to supply a major manufacturer with carbon wheels for use on a production car, striking a deal with Ford to deliver wheels for the 2015 Shelby Mustang GT350R.
Its wheels are also used on the new Ford GT and the Ferrari 488 Pista and, as production increases, falling costs may result in other OEMs opting for Carbon Revolution’s high-performance offerings.