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Waterloo EDC Blog

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GM makes $1 billion bet on electric vehicle manufacturing in Canada

Posted by Waterloo EDC on January 22, 2021

Canada’s automotive corridor keeps charging into a sustainable future.

General Motors has announced plans to invest $1 billion to manufacture its new EV600 electric van at the CAMI Assembly plant in Ingersoll, which is about a 30-minute drive from Waterloo. The facility currently produces Chevrolet Equinox compact sport utility vehicles.

This new investment will help Canadian manufacturing corner the market on electric delivery vehicles – every FedEx vehicle in North America will be produced at CAMI.

"Our first 10 months of production are already sold," said Mike Van Boekel, Unifor Local 88 Plant Chair, told CTV London. "During COVID if you look at the amount of delivery vehicles going up and down the road, it's incredible. It is an untapped market."

The deal also ensures GM will continue to operate in the area for at least another decade, giving employees and supply chain much-needed stability in an uncertain global environment.AutoTech Cluster Map Download Button

This is just the most recent of a number of deals struck by Unifor in 2020 to secure automotive manufacturing, with investments from GM, Ford and Fiat Chrysler topping $6 billion. Only a few months ago, Ford committed to a $2 billion plan to mass produce electric vehicles and the batteries that power them at their Oakville assembly plant, which is fewer than 90 kilometres away from Waterloo. The Ford investment was backed with a $500 million commitment from the governments of Canada and Ontario.

Toyota has manufactured the RAV4 Hybrid – North America’s highest-selling hybrid – at its Waterloo-based plant for years, as well as numerous Lexus models. The company recently made a $1.4 billion investment in its Ontario facilities, which have won a North America-leading 16 J.D Power Awards.

Together, this all adds up to a unique and unprecedented opportunity for electric and battery component suppliers to join a fast-growing, stable and secure automotive corridor.

Waterloo, which is directly between Ingersoll and Oakville, home to Canada’s largest robotics and automation cluster and top technology university is a no-brainer for companies looking for the space, location, talent and support to scale their operation quickly. New entrants would be joining an autotech ecosystem that already includes 90+ companies, including BorgWarner, OTTO Motors, Geotab and a Ford innovation centre.

 

Want to learn more about Waterloo’s unique automotive ecosystem? Download the autotech cluster map or contact the Waterloo EDC team today

Topics: automotive, autotech