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Government-backed EV part maker Carbon Revolution amassed $347m of debt in four years before entering administration

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Insolvency Insider
May 17, 2026

Less than two months after Carbon Revolution entered voluntary administration, administrators McGrathNicol’s report has revealed deepening losses at the Geelong-based carbon-fibre wheel supplier, including $347 million in losses since July 2022, failed sale efforts, lost EV contracts and potential cash-flow insolvency from around early December 2025, while the business continues trading with about 350 employees as administrators pursue a deleveraging outcome.