New Investment Strengthens Ontario Electric Vehicle Supply Chain
The 2023 Ontario Vehicle Innovation Network (OVIN) Report related that supporting and growing the Electric Vehicle (EV) industry is a top priority for the Ontario government. As EV leaders in North America, the government is working hard to support the EV industry and create a sustainable supply chain.
Recently, the Ontario government invested in the Dana Canada Corporation, a leading manufacturer in drivetrain and electric propulsion motor systems. They will manufacture thermal management systems, a key component of electric vehicle batteries and electronics, in two of the company’s Ontario facilities.
New Manufacturing EV Company to Create More Jobs
“As Ontario continues to build an end-to-end EV and EV battery supply chain, our government is proud to support manufacturers like Dana in expanding their production capacity and increasing their competitiveness”
Vic Fedeli, Minister of Economic Development, Job Creation and Trade
The $60M investment in Ontario will position Dana’s Cambridge manufacturing facility as one of the primary thermal management system sites in Canada. The positive results from this investment are significant – nearly 150 new well-paying jobs will be created in the communities and surrounding area.
To support this investment, the Ontario government is providing the corporation with a $2.5M grant via Invest Ontario. Dana’s project demonstrates the type of impactful alignment the government seeks when reviewing grant applications. The company’s expansion project directly plays a role in accelerating Ontario’s Driving Prosperity plan – a 10-year strategy aimed at transforming Ontario’s automotive supply chain and positioning the province as a leader in the EV industry.
“Dana’s thermal-management expertise has been led from our Technology Centre in Ontario since the 1950s, so it is exciting to witness the continued growth of this important technology in the province.”
Antonio Valencia, Dana President of Power Technologies and Global Electrification
O-AMP to Further Support the Ontario Automotive Industry
Ontario has attracted large-scale investments from global automakers, parts suppliers, and manufacturers of electric vehicles. The Skills Development Fund is also providing $4.7M to over 360 technicians and jobseekers for their skill development.
The Ontario government understands the importance of supporting the EV industry to ensure a talented workforce, state-of-the-art research facilities, and impressive manufacturing facilities. As part of efforts to boost the automotive sector, the Ontario government intends to begin accepting applications for the Ontario Automotive Modernization Program (O-AMP) in March 2024. O-AMP is a competitive program offering nearly $150K to successful applications – we encourage all businesses to contact us as soon as possible to prepare for upcoming deadlines.
Our free downloadable guide on Navigating the Funding Process also provides insight on preparing for your funding applications. Join our newsletter today to stay updated on upcoming OAMP information and other automotive funding opportunities.
