Carbon Revolution, who has made “the world’ first one-piece carbon fibre wheel”, is planning to invest in a new facility in Geelong.
A site at Geelong would add to the Carbon Revolution’s (formerly CFusion) existing plant at Waurn Ponds, and would create an extra 300 jobs by 2017.
However, The Australian reports, government investment would be necessary.
"Our focus is to try and fund it locally, but if we can't do that we will have to seek funding from offshore," CEO Dr Jake Dingle told The Australian.
"You don't squander a leadership opportunity like this just because you can't get it funded or built locally."
The company has previously been awarded over $1.8 million through the federal government’s Green Car Innovation Fund.
The high-performance wheels are 40 to 50 per cent lighter than aluminium wheels, though are expensive at approximately – according to Auto Week USA – $US 15,000 per set.
“Efficiency benefits and therefore greenhouse gas emission reductions of between 3% and 8% are achievable,” according to a statement from Deakin University, who partnered with Carbon Revolution to develop the technology.
Switzerland’s Ronal Group, which makes light alloy wheels and shower enclosures, has a minority stake in the company.
Image: Deakin University