Supplier Magna International and Canada’s province of Ontario, the centre of the country’s car industry, have announced plans to invest C$432m (US$441m) over six years to develop electric vehicle technologies. Ontario’s contribution will be C$48.4m.
“We are delighted to receive support from Ontario to pursue our goal of transitioning Canada’s automotive design, engineering and manufacturing toward the clean economy,” said Magna chief executive Don Walker.
The funding will go towards developing electric car concepts, parts for electric cars, lightweight materials and components, and an alternative energy project, creating an estimated 728 new jobs.
Magna is based in Ontario and its electric car venture Aurora will take charge of some projects while others will look at improving the efficiency of non-electric cars.
Ontario is attempting to encourage investment in green technologies in a bid to create jobs and remain a leading centre for car and car parts production.
Toyota has already announced that it will base its first EV manufacturing site outside of Japan in Ontario.