The Ontario government has concluded a successful business mission to Germany and Switzerland to attract investments and strengthen relationships with economic partners in the auto sector.
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As part of the mission, a delegation of Ontario organizations promoted the province’s auto supply chain and innovations at IAA Mobility, the world’s largest event for the mobility industry, which includes the auto and transportation sectors.
“We’re showcasing Ontario’s growing auto supply chain on a global stage and continuing to promote the province to companies around the world,†said Vic Fedeli, Minister of Economic Development, Job Creation and Trade.
“Missions like this have helped Ontario attract over $25 billion in transformative auto and EV battery investments from global automakers, parts suppliers, and electric vehicle battery and materials manufacturers over the last three years.â€
A delegation of 10 Ontario organizations, including Invest Ontario and the Ontario Vehicle Innovation Network (OVIN), showcased Ontario products and innovations at IAA Mobility in Germany.
The delegation promoted Ontario to international investors and potential partners and customers to grow the province’s auto supply chain.
The Ontario government also met with leading auto, tech and life sciences companies, including the BMW Group, Mercedes-Benz, ElringKlinger, Max Aicher Group, Intellegam, ZF Group, Schaeffler, Siemens, AstraZeneca and Emerald Technology Ventures.
These meetings were opportunities to learn more about the companies’ operations in Ontario and their plans for growth.
One of the companies, Infineon Technologies, a leading global supplier of semiconductors for vehicles, recently announced their planned acquisition of GaN Systems in Ottawa.
Last year, there was over $14.8 billion in two way trade between Germany and Ontario, and nearly $7.3 billion between Switzerland and Ontario. There are approximately 260 German businesses and 97 Swiss businesses operating in Ontario. ■