Provincial Minister Vic Fedeli says more investments expected for auto industry

Additional government spending in the automotive industry is expected over the coming weeks, according to Ontario’s Minister of Economic Development, Job Creation and Trade.

This news comes in light of nearly $13 billion that has been invested into the automotive manufacturing sector in Ontario within 18 months.

“Standby the next few days and weeks. We’ve got many more deals to be announced,” Vic Fedeli said in an interview on Morning Live Friday.

Just two days ago, automaker Stellantis and South Korean battery-maker LG Energy Solution revealed they will build a large-scale electric vehicle battery plant in Windsor, Ont. The province said the more than $5-billion investment is the largest in the automotive manufacturing history of Ontario.

A spokeswoman for Fedeli refused to say how much money the province is putting toward the project to “ensure [Ontario’s] negotiating position is protected for future investments.”

The battery facility, which is scheduled to be fully operational by 2025, will supply Stellantis plants in North America and employ about 2,500 people.

On March 16, Honda Canada announced that it will invest $1.38 billion over six years to upgrade its Alliston manufacturing facility to become the North America lead plant for the all-new 2023 CR-V Hybrid crossover. The federal and provincial governments said that each government will provide a conditional contribution of  $131.6 million to the plan.

Among many other investments, Fedeli said the funding will help secure thousands of high-quality jobs.

“Our job as the province of Ontario is to make sure that we’re supporting these manufacturers because that’s where the jobs are,” he said.

“We’re supporting the hundreds of thousands of manufacturers by helping to fund the five vehicle makers, the battery makers [and] all of the parts.”