Prime Minister Justin Trudeau has announced a $110 million investment in Toyota Motor Manufacturing Canada that will help support more than 8,000 jobs in Southwestern Ontario, and create 450 new jobs along with 1,000 new co-op placements.
“Companies have confidence in Canada and Canadian workers, and know that we are ready to build the cars of the future,” said Trudeau. “Today’s investment will support thousands of jobs for Canadians, and keep our auto sector globally competitive and at the centre of the growing demand for hybrid cars.”
Trudeau was joined by Ontario Premier Kathleen Wynne, who has also pledged a $110 million investment in Toyota. The funding will support carmaker’s plan to invest $1.4 billion in its Cambridge and Woodstock plants, and $200 million in Canadian research and development over the next decade.
“Ontario’s $110 million investment in Toyota is about making sure our province stays competitive during a time of rapid economic change, and building the kind of global partnerships that support long-term prosperity,” said Wynne. “This partnership will establish Cambridge and Woodstock as the North American manufacturing hub for Toyota’s RAV4, including hybrid versions,” she added.
The investments are expected to help maintain and create good, well-paying jobs for the middle class, as well as to promote economic growth and long-term prosperity in the country. They will also bring “a new advanced manufacturing platform” to the carmaker’s production plants.
The auto sector represents Canada’s largest export industry. It supports more than 500,000 jobs and contributes $18 billion annually to the economy.
