Canada Invests in Toyota and supports many Jobs in Ontario
An investment worth $85.4M announced by Justin Trudeau PM Canada will support Manufacturing sector of Toyota Motor-Canada $1B investment in Ontario plants located in Woodstock and Cambridge. It will support 8,000 jobs, and also create 450 fresh jobs. Furthermore it will lead to 1,000 new co-operative placements also. Toyota has a plan to invest $155 million in research activities in Canada spread over a period of 10 years.
Companies have confidence in Canada
The PM added that Companies have great confidence in the country and also in its workers. They know that Canada is ready to manufacture the cars belonging to the future. Such investments will offer support to many jobs for the people. Moreover, they will go a long way in keeping the automobile sector competitive. It will be an ideal center of hybrid cars. Furthermore he welcomed the decision of Toyota to invest in the top skilled and talented workforce and enlarge its footprints in Canada. This smart decision establishes Canada as an ideal location where the cars of tomorrow will be built.
This investment will also add a modern manufacturing platform to the plants of the company in Ontario. Additionally after it is completed, Canada will become a North American hub to manufacture the RAV4. It will have the modern and large hybrid vehicle production in North America.
The vehicles manufactured here will majorly be fuel efficient. Moreover, the process improvements in its manufacturing will help to check emissions of organic compound in select areas by ten percent. The plants of Toyota in Woodstock and Cambridge have the capacity to produce half a million vehicles each year and make Toyota the top automotive manufacturer in Canada.
Kathleen Wynne, Premier of Ontario said that such an investment in Toyota will ensure that our province will stay competitive in times of speedy economic change. Moreover, it will help to build the type of international partnerships which support prosperity.
Strategic Innovation Fund
This project receives the funds in the Strategic Innovation Fund, which is a $1 billion program aimed at supporting development, research as well as commercialization of new products. These in turn lead the way for the country to become as a global leader in innovation. It will also attract investments which will create jobs. The Government of Canada has launched this Fund in 2017 with the aim to become a preferred destination for businesses. Moreover, it will help in investment, growth, and creation of jobs.
Toyota partners with the government
Fred Volf, President Toyota Motors Canada, said that the company always had a powerful partnership with the government. It has a manufacturing experience spanning 30 years and is a success. The reason is that the TMMC team members have dedication , possess top skill levels , and have a challenging mindset. The company has adopted modern technology and has also introduced an innovative process to achieve success.
This is the largest of investments made in recent times in the automobile sector of Canada. Furthermore, during March 2017, with great support from the governments, Ford Motor Company of Canada announced a heavy investment of $780,000,000. It has a program of establishing a new connected vehicle research center, which will create and maintain 800 jobs.
Honda and General Motors-Canada
In January 2017, after taking the support of the federal and provincial governments, Honda of Canada launched a $382 million project. It will maintain several Canadian jobs and support advanced and cleaner technology. Finally, In June 2016, General Motors had announced that it will increase its research spending. This has the capacity to increase the total Software Engineers in the country to 1,000.