Linamar invests $1B to expand operations and develop EV technologies
Guelph, Ont.-based auto parts manufacturer Linamar Corporation is expanding its operations across the province and creating thousands of jobs by investing $1 billion into the automotive industry.
The company's expansion will help to develop key components for the automotive supply chain, including powertrain solutions and technologies for hybrid and electric vehicles (EVs).
The announcement was made Tuesday morning at the Frank Hasenfratz Centre for Excellence in Manufacturing in Guelph.
"We have close to a billion dollars of work that we are launching right now in our Canadian facilities and we are continuing to quote on record levels of new business opportunities," Linamar's executive chair Linda Hasenfratz said at the announcement.
"We expect to generate about $1.5 million of sales from those business wins over time and the opportunities that we are continuing to pursue."
The funding will also accelerate advancements in parts manufacturing and semiconductor packaging methods for EV batteries. This will include enhancing vehicle ranging, improving efficiency and reducing charging times.
Federal Minister of Innovation, Science and Industry François-Philippe Champagne was at the announcement.
"This is great news for the industry, great news for the environment and it's also great news for the workers and communities in Guelph, Saltford, Wellend and Windsor," he said.
Ontario's Minister of Economic Development, Job Creation and Trade Vic Fedeli was also in attendance at the announcement and said the province will support the expansion with a further $100 million investment.
"With their $1 billion investment, Linamar will create more than 2,300 new, good paying jobs and help ensure our workers remain equipped to develop the innovative technologies of tomorrow," he said.
As part of the investment, Linamar also plans to expand the production of eAxle systems and support ongoing advancements in developing hydrogen fuel cell and battery storage technologies.
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