The federal and provincial governments are each chipping in $295 million initially, and it is all part of a three-year agreement worth nearly $2 billion that was announced in September between the automaker and Unifor, the union that represents autoworkers in Canada.
This latest move is also part of a series of investments the federal government is making in Canada’s renewable energy economy, as well as another step forward in meeting the country’s net-zero emission goals by 2050, according to The Deep Dive.
The agreement will save about 3,000 of the 3,400 jobs at the Oakville plant, and will also give an economic boost to Canada’s domestic mining companies that produce the necessary metals for EV batteries.
Ontario Premier Doug Ford has even had a change of heart, saying his government is “all in” on its support of the industry. He was criticised in the past for canceling a proposed rebate that would have encouraged people to buy electric vehicles, reports the Global News.
“We’re blazing a new trail with this announcement,” said Ford. “Rather than bickering and arguing with each other, when we’re all pulling in the same direction, this is the result we get.”
