Friday, August 1, 2025

Latest

Federal and Ontario Governments Commit $2 Billion Towards EV Mass Production at Ford Oakville Plant

It appears that the federal government has given a boost to Canada’s economic recovery by pledging over $250 million towards the production of electric vehicles in Ontario. This latest move is part of a series of investments into Canada’s future renewable energy economy, and another landmark in meeting net-zero emission goals by 2050.

Both the federal and Ontario provincial governments are each earmarking upwards of $250 million to commence production of electric vehicles and batteries at the Oakville, Ont. Ford Motor Co plant. The three-year agreement, which was announced in September between Unifor and Ford, will be worth almost $2 billion, and will save 3,000 of the 3,400 jobs at the Oakville plant. In addition, the investment is also expected to provide a boost for domestic mining companies that produce the necessary metals for EV batteries.

The federal government is no stranger to investing in a cleaner economy, with a previous commitment of over $300 million towards a network of EV charging stations across Canada, as well as introducing a rebate of $5,000 off the price of a hybrid or electric vehicle. Moreover, given the current state of Canada’s economy amid the pandemic, the investment will also help save the struggling auto sector, as well as boost the country’s competitive edge in meeting the forthcoming exponential global demand for electric vehicles.


Information for this briefing was found via The Canadian Press. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why Gold’s Bull Run May Just Be Getting Started! | Peter Grandich

Tariffs Spark New Race for Critical Metals | Rob McEwen

Antimony Resources: The Bald Hill Project

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Justin Trudeau Unveils Additional COVID-19 Commercial Rent Relief, Expanded Forgivable Loan Program

Canada’s federal government today unveiled several COVID-19 stimulus measures to help further the economic recovery...

Friday, October 9, 2020, 03:25:59 PM

President Biden Eyes Biggest Federal Tax Hike Since 1993 in Next Major Economic Plan

While numerous households across the US celebrated as they received their stimulus checks, the current...

Tuesday, March 16, 2021, 09:48:00 AM

CBO Forecasts Lower Budget Deficit in 2021 – But Calculations Exclude Biden’s Proposed $1.9 Trillion Stimulus

The latest economic outlook published by the Congressional Budget Office calculates that the US federal...

Saturday, February 13, 2021, 11:51:00 AM

US Manufacturing Orders Drop by Record Amount Amid Coronavirus Pandemic

The coronavirus has caused significant disruptions across the US, shattering vital supply chains and reducing...

Tuesday, May 5, 2020, 06:03:00 PM

Consumer Spending Among Unemployed Americans Higher Than Pre-Pandemic Due to Additional Jobless Benefits

With the Federal Reserve pumping trillions of dollars into the US economy with hopes of...

Friday, July 17, 2020, 02:51:00 PM