Prime Minister Justin Trudeau and Ontario Premier Doug Ford announce funding for Ford Motor Company of Canada
Canadian innovation and manufacturing were in the spotlight this week when Prime Minister Justin Trudeau and Ontario Premier Doug Ford jointly announced $590 million in funding for Ford Motor Company of Canada.
This funding is part of a $1.8 billion repurposed battery-electric vehicle (BEV) production plant for the Ford Motor Company of Canada’s Oakville Assembly Complex. The federal and provincial contributions of $295 million each will cover approximately 35% of the project cost with Ford Motor Company of Canada footing the balance.
It is anticipated this funding will help to secure 5,000 jobs in the Canadian automative industry.
The funding announcement signalled a continued focus on the importance of green technology and innovation to the Canadian economy and ties into the federal government’s commitment to invest in the transition to a clean, renewable-energy economy, with the goal of reaching net-zero carbon emissions by 2050.
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