Ontario investing in innovation of auto industry

Ontario is said to be the only region in the world with five global automotive assemblers — Fiat-Chrysler, Ford, General Motors, Honda and Toyota — as well as truck manufacturer Hino and is providing Linamar with a conditional grant through the Jobs and Prosperity Fund -- which grants  funding to businesses, business associations and entrepreneurs for projects to improve productivity and help them compete in the global marketplace. -- of up to $50 million as part of a project with overall eligible costs of up to $500 million.

The Government of Canada will also provide matching funding towards the project, the duration of which is until 2024 with job commitments lasting until 2029, according to reports.

“We are thrilled by the support shown today by both our federal and provincial governments for our significant investment in innovation...of both product design, process design and material development to solve global problems and create opportunities for us all to succeed...further cementing the fact that Canada is a great place for advanced manufacturing to thrive,” Linda Hasenfratz, CEO of Linamar Corporation was reported to state.

“Ontario’s auto industry continues to attract investment, even in the midst of uncertainty about NAFTA, which proves our foundational strength when it comes to building and developing new vehicles. Partnerships like this one support our long-term competitiveness and help Ontario continue to lead the way in transformative vehicle technologies,” Duguid was reported to state.

The investment will reportedly help Linamar to manufacture next-generation transmission, high-efficiency engine components and systems, produce electrified and connected vehicle technologies.

Bains, according to reports, said that this investment in dedicated automotive innovation -- focused on artificial intelligence, machine learning, collaborative robotics and lightweight components.-- is one of Canada’s leading sectors and "will create and maintain middle-class jobs in Southern Ontario and drive economic growth in the area. Investing in these projects also means that Canadian manufacturers can remain globally competitive and a leader in technological advancements.”

Official reports also said that this investment will also help Ontario's plan to increase the number of post-secondary students graduating in science, technology, engineering and mathematics (STEM) disciplines by 25 percent over the next five years, to 50,000 per year giving Ontario the highest number per capita of postsecondary STEM graduates in North America.

Vehicle assembly and auto parts production, will directly support more than 100,000 jobs in Ontario, reports said.

Ontario -- said to be the top vehicle producer in North America -- is expected to further strengthen its leadership in the development and manufacturing of the next generation of vehicles and new automotive technologies worldwide thereby attracting new investments and jobs.

Ontario also recently announced, official reports said, that the Autonomous Vehicle Innovation Network (AVIN) -- which strengthens its position as a North American leader in transformative automotive technologies, as well as transportation and infrastructure systems -- and provide $80 million over five years for the economic and environmental benefits of connected and autonomous vehicle (C/AV) technologies.

"Our government continues to work with businesses like Linamar that help boost the economy and create good, stable jobs. I’m delighted the government can be part of the long-term vision for a business that continues to innovate and grow in Guelph," Liz Sandals, Member of Provincial Parliament for Guelph, was quoted by the media as saying.

(Reporting by Asha Bajaj)

Images: sourced from Facebook