OAKVILLE, Ont. — Ford Motor Co. has revealed some details of its plan to spend $1.8 billion on its Oakville Assembly Complex to turn it into an electric…
Ford’s announcement is the latest commitment by an automaker transitioning towards an electric future.
The company has committed to invest over US$50 billion in electric vehicles globally and has a target of producing two million EVs a year by the end of 2026 as part of its Ford Plus growth plan. The company’s spending plans were first announced in 2020 as part of union negotiations, with workers seeking long-term production commitments and the Detroit Three automakers eventually agreeing to invest in Canadian operations in concert with spending agreements with the Ontario and federal governments.
The Ford spending commitment is just one of many seen in Canada in recent years, most recently with Volkswagen announcing in March it would build its first battery cell plant outside of Europe at a plant in St. Thomas, Ont. The federal government has not yet said how much money it committed to secure the Volkswagen investment.Article content
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