STELLANTIS INVESTS AN ADDITIONAL $3.6 BILLION IN ONTARIO
On May 2, 2022, in Windsor, Ontario, Stellantis North America Chief Operating Officer Mark Stewart, alongside Canadian Prime Minister Justin Trudeau and Ontario’s Prime Minister Doug Ford announced $CAD 3.6 billion investment in the province.
“To accelerate the company’s evolution towards a sustainable future”, Stellantis has announced an extra $3.6 billion investment in Ontario. In addition to upgrading its Windsor and Brampton assembly plants, the money will expand its Automobile Automotive Research and Development Centre (ARDC), as well as create two “competence centres” in the province, focused on electric vehicles (EVs) and batteries. The company stated that both plants are expected to return to three shifts due to the demand for the EVs it will produce. The governments of Ontario and Canada have each agreed to fund the projects to the tune of $513 million. This announcement brings Stellantis’ overall investment in Ontario to C$8.6 billion, including $5.2 billion to build a new EV battery plant in partnership with LG Energy Solution.