Ontario Minister of Economic Development Vic Fedeli gives remarks during a press conference at a Magna International production facility, in Brampton, Ont., on Wednesday, February 15, 2023. THE CANADIAN PRESS/Christopher Katsarov
Republished February 15, 2023 - 10:00 AM
Original Publication Date February 15, 2023 - 9:16 AM
BRAMPTON, Ont. - Magna is announcing it is putting more than $470 million into bolstering its Ontario operations, including an electric vehicle battery enclosure facility northwest of Toronto.
The company says the new operation in Brampton, Ont., as well as expansions to its locations in Guelph, Belleville, Newmarket, Windsor and Penetanguishene are expected to create more than 1,000 jobs over the next few years.
The provincial government announced that it is supporting Magna's expansion with $23.6 million in funding through Invest Ontario.
Economic Development, Job Creation and Trade Minister Vic Fedeli says it will help Ontario create an end-to-end electric vehicle supply chain.
Magna says the new Brampton location – a leased facility –should be in operation later this year.
The expansions include adding e-coat, molding and welding capacity to its exteriors plant in Guelph to support electric vehicle production.
This report by The Canadian Press was first published Feb. 15, 2023.
Companies in this story: (TSX:MG)
News from © The Canadian Press, 2023