Agreement Value:
$295,000,000.00
Agreement Date:
Jul 1, 2023 - Dec 31, 2027
Description:
This project will convert the Oakville Assembly Complex (OAC) from a manufacturing facility that produces internal combustion engines to a manufacturing facility that produces battery electric vehicles. A repurposed battery-electric vehicle production plant for the OAC is in line with the Government of Canada's commitment to sustainable growth and electrification.
Organization:
Innovation, Science and Economic Development Canada
Expected Results:
This anchor investment aims to support the shift to the electrification of many manufacturing sectors in Canada. This is also intended to support Canada's zero-emission vehicle (ZEV) adoption targets by expanding made-in-Canada ZEV options, while driving further investment in Canadian battery technology, production, and supply chains. This project anticipates to maintain 5,400 jobs within Canada.
Location:
Oakville, Ontario, CA L6J5E4
Reference Number:
033-2021-2022-Q2-815949
Agreement Type:
Contribution
Report Type:
Grants and Contributions
Recipient Business Number:
892183476
Recipient Type:
For-profit organization
Additional Information:
This is a non-repayable contribution.
Recipient's Operating Name:
Ford of Canada
Recipient's Legal Name:
Ford Motor Company of Canada, Limited
Federal Riding Name:
Oakville
Federal Riding Number:
35072
Program:
SIF Stream3- Attraction
Program Purpose:
-Encourage R&D that will accelerate technology transfer and commercialization of innovative products, processes and services;-Facilitate the growth and expansion of firms in Canada;-Attract and retain large scale investments to Canada; and-Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector.