Toronto Global’s Post

We are now down to two transit bus manufactures. Among the reasons REV cites for leaving the transit bus market is the cost of transition to zero emission vehicles.

Ontario continues its stride towards automotive and electric vehicle excellence with a monumental $43 billion in investments secured to date. A warm Ontario welcome extends to Honda as they join the regional EV supply chain, marking a significant and historic investment in our province. Key Details: Honda is committing a staggering $15 billion investment into its Canadian EV supply chain. 🏭 Four state-of-the-art factories will be established: One for EV production One dedicated to battery manufacturing One for CAM/pCAM One for battery separators Financial Support: The province of Ontario is contributing up to $2.5 billion, while the federal government is matching this amount, demonstrating a united effort towards sustainable growth and innovation. #Ontario #Automotive #ElectricVehicles #Investment #Lithium https://lnkd.in/e3Ur-GVA

Honda Announces $15 Billion Investment for New EV Plants in Ontario Honda's $15-billion investment in Ontario heralds a new era for Canada's automotive industry, with plans to construct four pioneering electric vehicle manufacturing facilities. Announced by Prime Minister Justin Trudeau and Ontario Premier Doug Ford, this initiative is set to establish Canada's first comprehensive electric vehicle supply chain. The investment includes an electric vehicle assembly plant and a battery production facility at Honda's Alliston location, plus additional plants for key components in partnership with global firms POSCO Future M Co., Ltd., and Asahi Kasei Corporation. Slated to become fully operational by 2028, the assembly plant is expected to produce up to 240,000 vehicles annually and generate over 1,000 jobs, marking this as Canada's largest automotive investment to date. This strategic move, supported by significant provincial and federal incentives, aims to position Ontario as a leader in the electric vehicle industry, enhancing Canada's global standing in green technology. #VeritasMedia #ElectricVehicles #CanadaAuto #HondaInvestment #OntarioJobs #GreenTech #EVManufacturing #SustainableCanada #AutoIndustry #CleanEnergy #EconomicGrowth #Innovation #TechJobs #FutureOfDriving #ClimateAction #BatteryTechnology #InvestInCanada #IndustrialStrategy #CanadianEconomy #GlobalLeadership #AutomotiveInnovation

Jefferson County Economic & Industrial Development Authority has amassed approximately 1,100 acres located in North Jefferson County for its latest industrial park....JeffMet North Industrial Park. The property, located off Interstate 65 at Exit 275 near the Gardendale/Morris area, sets the stage for the creation of approximately 4,700 new jobs, based on the employment matrix from the JCEIDA operated JeffMet McCalla Industrial Park. JCEIDA Executive Director Othell Phillips cites JeffMet McCalla as an example. “JeffMet McCalla has been very successful,” Phillips said. “If you look at the developable acreage, we have produced 6.5 jobs per acre on that property. If you use that same scale at the North Jefferson property, we have a potential of producing 4,700 jobs. “McCalla is primarily a manufacturing and industry park and that's kind of what we're trying to duplicate in the North Jefferson area,” he said, “because the manufacturing industry produces more jobs.” JeffMet North is strategically located for automotive supplier opportunities as it is 72 miles from the Toyota Mazda Plant in Huntsville, 47 miles from the Mercedes Plant in Vance and 57 miles from the Honda Plant in Lincoln. The new park will also be ideal for additive manufacturing and food production facilities. “Most of the automobile manufacturers want their suppliers within 90 miles. That way, logistically, it's close enough to serve them but they want them outside of their workforce area,” Phillips said. “We're outside of their workforce area but within their supply chain, logistics area. JeffMet North thus will target suppliers for the aforementioned auto plants, following the pattern established with the relationship between JeffMet McCalla and the Vance Mercedes plant, which has eight buildings that house automobile suppliers for Mercedes, Hyundai and others. “We're in the jobs business,” Phillips said. “We try to create jobs. That's our goal.” JCEIDA received a SEEDS Assessment Grant from the State of Alabama. The groundbreaking grant program — a key portion of Governor Kay Ivey’s “Game Plan” package of economic development bills approved by the Legislature last year — takes direct aim at the urgent need for quality industrial sites in Alabama at a time when other states are spending heavily to expand their site programs. JCEIDA matched a $191,365 SEEDS grant and thus had $382,730 to complete the engineering and due diligence on JeffMet North. Jefferson County Economic and Industrial Development Authority was formed in 1995 by the Jefferson County Commission with a mission to provide an inventory of commercial sites for new and expanding businesses. Its aim is to promote Jefferson County as a as premier location for manufacturing, attract investment from leading global companies, retain and grow existing companies, develop, retain and attract talent and advocate for a competitive business climate.

📢 MG Motor, originally a British company and now owned by China’s SAIC Motor Corp since 2007, has announced plans to build a manufacturing plant and a research center in Mexico. The company’s President, Zhang Wei, highlighted their achievement of selling 150,000 vehicles in Mexico in just four years. 📢 The new facilities aim to enhance MG Motor’s local production and generate market intelligence for Latin America. Details about the location, investment, and start date of the plant and research center are yet to be disclosed. However, it’s suggested that the plant could be in central Mexico or the Bajío region, with an initial annual production target of 100,000 vehicles. 📢This initiative is part of MG Motor’s strategy to make Mexico a key hub for Latin America, including the introduction of their premium brand, IM. The ultimate goal is to use Mexico as a launchpad for expanding SAIC Group and MG Motor in Latin America and the Caribbean.

#ICYMI: Autos Drive America released its 2024 Economic Impact Report that highlights the significant contributions of international automakers to the U.S. economy:    - $109 billion invested in U.S. operations  - $328 billion added to U.S. GDP  - 156,000 Americans employed, including 102,600 in manufacturing  - Nearly half of new U.S. vehicles produced by international automakers    International automakers foster economic growth and innovation across the nation. See the full report: https://lnkd.in/eYspkQdb   #FDIintheUSA

Honda’s $15B investment in the supply chain and assembly of EV is a huge win for Canada. Expanding the market so that all cars sold in Ontario are EVs by 2035 will generate $3.4B in GDP and over 24K jobs. Here’s our analysis of EV market potential 👇 https://bit.ly/3UyX7Zy

Honda & Ontario Forge Major EV Deal, Electrifying Canada's Future ⚡️🇨🇦 Canada's auto industry is shifting into high gear! Honda and the Ontario government have struck a monumental deal – potentially the largest in Canadian history – to invest billions in electric vehicle (EV) production. This collaboration promises to supercharge Canada's EV ambitions. Details are still emerging, but leaks suggest a multi-pronged approach: New Facilities: Construction of multiple facilities across Ontario dedicated to battery production, processing key components, and assembling EVs themselves. Honda's Strategic Move: This secures Honda's long-term presence in Canada and gives them a competitive edge in the burgeoning North American EV market, capitalizing on government incentives to rival the US Inflation Reduction Act. Ripple Effect: The Automotive Parts Manufacturers' Association (APMA) anticipates a surge in supplier interest, potentially creating a significant number of jobs throughout the automotive supply chain. However, this exciting development comes with some lingering questions: Subsidies: The exact nature and extent of government financial support remains unknown. While proponents argue it's necessary to keep pace with the US, critics raise concerns about long-term sustainability. Environmental Impact: The shift to cleaner transportation is undeniable, but the construction and energy consumption associated with new facilities require transparent environmental regulations and sustainable practices. Overall, this deal marks a significant leap forward for Canada's EV aspirations. The potential benefits for job creation, economic growth, and technological advancement are substantial. But ensuring a clean and sustainable future requires careful consideration of the financial and environmental implications. Will this partnership spark a truly clean automotive revolution in Ontario? Only time will tell. #Canada #ElectricVehicles #Honda #Ontario

British automotive industry manufactured over one million vehicles in 2023 UK vehicle production broke records in 2023, with over one million units produced for the first time since 2019. The Society of Motor Manufacturers and Traders (SMMT) reported 1,025,474 units produced, marking a 17.0% increase from the previous year. This milestone was achieved thanks to the easing of pandemic-related challenges and increasing production of electrified models. The industry's positive year was rounded off with strong December performances, with car manufacturing up 20.7% year-on-year and commercial vehicle volumes up 80.3%. Eight all-new cutting-edge models entered production, including at the newly reopened Ellesmere Port EV-only plant. The industry also saw a surge in investment commitments, with over £23.7bn pledged in private and public investment from Cowley to Sunderland, gigafactories to R&D facilities. What an achievement for the UK automotive industry, hopefully we see this increase year after year. #UKAutomotive #VehicleProduction #ElectrifiedModels #Investment #SMMT

Exciting News! Southeast Regional Center is making headlines for its role in supporting investment in electric vehicle manufacturing, leading to sustainable economic growth across our 10-state operational region 🌿. Our track record in the auto industry is more than a decade in the making, including successful collaborations with critical parts suppliers for manufacturers such as Hyundai and Kia. We are proud to be part of the US EV transformation as we bring critical investment to areas that need it most, especially rural areas and regions experiencing high unemployment. 🌐 As described in USA Today's coverage, these efforts symbolize our dedication to fostering innovation and employment opportunities. Read more about how we're driving progress! https://lnkd.in/eUthSXCZ #SoutheastRegionalCenter #EB5Investment #ElectricVehicles #EconomicDevelopment #Reshoring #AutomotiveIndustry #Innovation #SustainableGrowth #InvestInFuture