Ottawa, Ontario – The federal and Ontario governments are set to send out their first round of funding to the Ford Motor Company later today – an investment earmarked for EV (electric vehicle) and battery development at their Oakville plant.
Each chipping in $295 million as part of the recent $2 billion deal struck between Unifor and Ford, the federal and Ontario provincial governments officially announced the first stage of the investment at a press conference today.
“By making this investment in Ford Canada, we are ensuring our province continues to lead North America and the world in automotive manufacturing and innovation while boosting our competitiveness in this key sector,” Premier Doug Ford said. “We are also securing thousands of good-paying jobs, not just at the facility in Oakville, but across the province. This project will help support our auto parts sector and other suppliers and service providers.”
This investment will go towards supporting the 3,400 workers employed at Ford’s Oakville plant whose future has been uncertain since their flagship Edge model has been marked for discontinuation in 2023.
Unifor’s deal with Ford, and potentially GM and FCA in the near future, is intended to be the first stage in catapulting Canada into a position as a global leader in EV and battery development.