Following Ford’s $1.8 billion investment into its Oakville and Windsor Ontario plants, the federal and Ontario governments are adding $590 million to the pot.
The investments from Ford and the multiple government levels were reported near the end of September when the Unifor Union and Ford forged a tentative deal. At that time, it was reported by the Toronto Star that Ottawa was only going to put forth $500 million to help convince Ford to bring its EV manufacturing to Ontario.
Today’s official announcement clarifies that it’s actually two separate $295 million investments from both the provincial and federal governments.
As per the previous reports, this money is being used to re-tool the Ford plant in Oakville to include a new battery pack assembly line, which should start producing vehicles some time in 2025.
This is a big deal for Canadians since this is set to become one of the highest volume EV plants in North America. Beyond that, having an EV plant in Canada might help convince other manufacturers to move their EV plants north.