Magna, government of Ontario investing in EV R&D

"We don't need it (the $48 million from the Ontario government). If Ontario decided not to give it to us, we might do some of it here but we also will go to where we can get tax relief or other customers or justisdictions..." Don Walker, CEO, Magna International 

Magna International will invest $430 million in the development of new electric car technologies in Ontario. The investment includes a $48 million incentive by the government of Ontario. The plan will create more than 700 jobs in the province and maintain 1,300 jobs at Magna's facilities in Aurora, Brampton, Concord and St. Thomas. The $430 million will be spent over six years on about 19 research and development projects, including some through Magna's E-Car division.

That R&D will include research on electric car concept development, various parts and components for hybrid and electric cars, and an alternative energy project among others. Ontario is the centre of Canada's automotive industry and seeks to maintain that position with investments in the lucrative field of electric and hybrid vehicles. Magna has previously worked together with Ford to develop the Ford Focus Electric. Approximately 20 per cent of Magna's global workforce of 104,000 are in Ontario.

Earlier this summer, Toyota announced that it would spend $141 million in government grants to upgrade its Woodstock plant to build the electric-hybrid version of the RAV4 SUV. GM plans to develop its new Cadillac ELR luxury sedan in Ontario. And the government contributed $16.7 million to a $94.8 million expansion by Electrovaya Corp. of Mississauga, a manufacturer of batteries for electric vehicles.