Federal, Ontario governments to back Linamar expansion program

By zaymalz malz

The Canadian federal and Ontario governments have announced that they will each be backing a new $750mn expansion project undertaking by auto-parts manufacturer Linamar with two sizeable investments.

The federal government has committed $49mn, whilst the Ontario government has put forward $50mn, with the project expected to both create 1,500 new employment opportunities, in addition to maintaining an existing 8,000 jobs.

See also:

“This investment solidifies Ontario's leadership in the development and manufacturing of the next generation of vehicles,” said the Ontario government. “It will also increase technological capabilities in the supply chain, making the province's automotive sector more competitive.

“Investing in advanced manufacturing and innovation is part of Ontario's plan to create fairness and opportunity during this period of rapid economic change.”

The $99mn in investments will be used to help Linamar innovate the manufacture of its components and systems, whilst also enabling the company to develop electrified and connected vehicle technologies.

Further, Linamar will create a dedicated Innovation Centre that will focus on the use of emerging technologies such as artificial intelligence (AI), machine learning and robotics.

Ontario will provide the $50mn grant through its Jobs and Prosperity Fund, whilst the federal government will use the Strategic Innovation Fund to provide its $49mn own investment.

Share

Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI