Canada invests in Ontario's auto sector, securing 8,000 jobs
Toyota will equip its Cambridge South plant with new machinery that will allow it to produce two next generation Lexus SUV models and equip its Woodstock plant with equipment capable of building lightweight aluminum parts that improve fuel efficiency.
The production of lightweight technology is an exciting advancement for the Ontario automotive industry because Canada will be well positioned to export these lightweight, fuel-efficient parts to the United States.
To date, the Government of Canada has committed close to $367 million for seven Automotive Innovation Fund (AIF) projects and leveraged up to $2.77 billion in further sector investments to bring innovative, more fuel-efficient vehicles to market.
Toyota is one of Canada's largest automotive manufacturers, operating three assembly lines in Ontario and producing 579,000 vehicles annually.
Toyota's Cambridge plant is the only North America facility to produce the Lexus vehicle.
The automotive manufacturing sector continues to be critical to the Canadian economy. It contributed 10 percent of manufacturing GDP and 13 percent of merchandise exports in 2014.
The automotive sector employs about 121,500 Canadians directly and another 390,700 indirectly in distribution and after-market sales. In Ontario alone, the sector contributes $16 billion to the economy and accounts for almost 21 percent of its manufacturing sector. ■