Ontario is providing Linamar with a conditional grant of up to $50 million (Rs 315 crore) as part of a project with overall eligible costs of up to $500 million (Rs 3,158 crore).
16 Jan 2018 | 5333 Views | By Autocar Professional Bureau
Ontario and Canada are partnering with precision products manufacturer Linamar to advance cutting-edge auto technology, boost R&D and help create up to 1,500 new jobs and retain about 8,000 others in the province. Brad Duguid, Ontario Minister of Economic Development and Growth, and Navdeep Bains, Federal Minister of Innovation, Science ...
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Ontario and Canada are partnering with precision products manufacturer Linamar to advance cutting-edge auto technology, boost R&D and help create up to 1,500 new jobs and retain about 8,000 others in the province. Brad Duguid, Ontario Minister of Economic Development and Growth, and Navdeep Bains, Federal Minister of Innovation, Science and Economic Development, were in Guelph on January 15 to make the announcement.
Ontario is providing Linamar with a conditional grant through the Jobs and Prosperity Fund of up to $50 million (Rs 315 crore) as part of a project with overall eligible costs of up to $500 million (Rs 3,158 crore). The project duration is until 2024 with job commitments lasting until 2029. The government of Canada is also providing matching funding towards the project.
The investment will help Linamar to manufacture next-generation transmission and drivetrain components and systems; build high-efficiency engine components; develop and produce electrified and connected vehicle technologies; and create a dedicated innovation centre focussed on artificial intelligence, machine learning, collaborative robotics and lightweight components
This investment enhances Ontario’s leadership in the development and manufacturing of the next generation of vehicles. It will also increase technological capabilities in the supply chain, making the province’s automotive sector more competitive. Ontario is the top vehicle producer in North America, and is uniquely positioned to lead the development of exciting new automotive technologies worldwide, attracting new investments and jobs to the province.
Ontario is North America’s seventh-largest economy and Canada’s largest centre for banking, insurance and capital markets. Ontario is 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.
The province recently announced the Autonomous Vehicle Innovation Network (AVIN) — $80 million (Rs 505 crore) over five years — to harness the economic and environmental benefits of connected and autonomous vehicle (C/AV) technologies.
According to Navdeep Bains, "Our government is investing in automotive innovation, one of Canada’s leading sectors. This investment 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.”