Magna International Invests Over $470 Million in Ontario for Electric Vehicle Production
Source：electrive
From：Taiwan Trade Center, Toronto
Update Time：2023/04/05
Magna International, a leading automotive supplier, is investing over $470 million in six locations across Ontario, Canada. The largest investment will go towards the construction of a new battery casing plant at the Brampton site, which will produce battery cases for the Ford F-150 Lightning and other original equipment manufacturers (OEM) programs. The Brampton facility is set to commence operations in the second quarter of 2023.
In addition to the Brampton site, Magna is expanding five other locations in Ontario, including Guelph, Belleville, Newmarket, Windsor, and Penetanguishene. The Guelph expansion, in particular, will increase the capacity for e-coating, molding, and welding to support the production of new electric vehicles. This expansion is expected to create 175 new jobs from the second quarter of 2023 onwards.
“This investment represents another tremendous show of confidence in the growing strength and resilience of our province’s auto sector. Together, with our industry partners, we’re putting Ontario back on the map as we build up Ontario’s electric vehicle supply chain from mining to manufacturing. The cars of the future and the batteries that power them will be built right here in Ontario, by Ontario workers.” – Premier Doug Ford
Magna's investment in Ontario is in response to new orders from various automotive manufacturers in key product areas, and the six projects are expected to create around 1,000 new jobs. Over half of these jobs will be at the new battery housing plant in Brampton. The Ontario government has also granted Magna $23.6 million to support the expansion projects.
“This game-changing investment by Magna will create hundreds of new jobs across the province, while further strengthening Ontario’s end-to-end automotive supply chain. We’re creating the right conditions for businesses to succeed and continue to work around the clock to attract new investments that build a stronger economy."– Vic Fedeli, Minister of Economic Development, Job Creation and Trade
Eric Wilds, Magna's Chief Sales and Marketing Officer, said, "Magna’s roots in Ontario run deep, and we are excited about opening a new facility dedicated to a strategic electrification product. The Brampton facility, coupled with investment and growth in five existing Ontario facilities, allows Magna to keep up with customer demands across several product areas. We are excited to bring new business, more investment, and additional jobs to Ontario."
Magna has also announced plans to produce battery cases for the Chevrolet Silverado EV at its St. Clair plant in Michigan, USA. The company is investing more than $500 million to expand its EV component production in the United States.
Source: https://www.electrive.com/2023/02/16/magna-to-build-battery-casing-plant-in-canada/