Concord, Ontario — As huge sums of money are currently being floated above Ontario’s burgeoning EV industry, the federal government announced Thursday that it will be investing $5 million into a Concord auto parts plant specializing in lightweight EV parts.
With this boost in funding from the Federal Economic Development Agency of Southern Ontario (FedDev Ontario), ArcelorMittal Tailored Blanks Americas Limited (AMTB) will be equipped to transition its operations to 100 percent EV component production, while creating 65 jobs in the Concord area in the process.
“Our company is grateful for this government funding, which allows us to expand our production of innovative new products for electric vehicles,” said AMTB president and CEO Todd Baker.
“This funding directly supports our investment in industry-leading manufacturing equipment, brings new jobs to the area, and marks an exciting step forward in our commitment to help drive a safer and greener tomorrow.”
