Trudeau, Ontario announce ‘win-win’ $1.8 billion investment into Ford electric vehicle production

PM, Ford announce COVID-19 job boost with auto investment

Prime Minister Justin Trudeau and Premier Doug Ford announced contributions part of a $1.8 billion investment into car manufacturer Ford’s Oakville Assembly Complex, in order to make it a global hub for battery electric vehicle production.

Both the Ontario and federal government will invest $295 million, to go along with an investment by the manufacturer, in order to make zero emission electric vehicles.

“By investing in technology that protects the environment, we’re also taking action on our plan to get to net zero carbon emissions by 2050, said Prime Minister Justin Trudeau on Thursday. “For our environment, for our auto-sector, this is a win-win.”

Trudeau said the announcement secures 5,000 middle-class jobs, while positioning the country to use its talent to be a leader in electric vehicles, a growing market.

“Today’s announcement represents the largest investment in Ontario’s auto sector and over 15 years. This is a historic moment,” said Ford at a press conference in Oakville.

“It will allow Ontario to continue to lead in the development and production of the next generation vehicles connected vehicles autonomous vehicles. And now, electric vehicles. The future of the automobile.”

In addition, with the town of St. Paul and federal partners, the Ontario government will be purchasing 73 new electric buses and 32 charging stations, while they’ll be looking to create 244 internships to prepare students for jobs of the future.

“Today, we’re laying the groundwork for the long term recovery and prosperity of our province,” said Ford.

Vic Fedeli, Ontario’s minister of economic development, job creation and trade, said that the investment will make Ford’s Oakville assembly complex the company’s number one battery electric plant in North America.

More to come.

Source Article