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ONTARIO 🚗🔌💵 Ontario Welcomes $102 Million Investment in Growing Electric Vehicle Sector

Sunday, 02 July 2023 12:00.PM

- Mitsui High-tec (Canada), Inc.’s new Brantford facility will help build province’s EV supply chain -

The Ontario government is welcoming a $102.3 million investment by Mitsui High-tec (Canada), Inc. a manufacturer of motor cores, the basic structure of the motor used in electric vehicles (EVs). This investment, to expand the company’s Canadian operations, will create 104 highly skilled, good-paying jobs, while helping to build Ontario’s EV supply chain.

“Mitsui High-tec (Canada), Inc.’s investment to expand its Brantford-based facilities is a huge boost not only for the people of southwestern Ontario, but for our province’s growing manufacturing and auto sectors,” said Premier Doug Ford. “With great partners, we’re building an electric vehicle and battery supply chain and making Ontario an auto-manufacturing powerhouse once again.”

Since opening its first Ontario facility in 2017, Mitsui High-tec (Canada), Inc. has expanded twice to increase production capacity and is now the only motor core parts manufacturer for EVs and hybrid vehicles in Canada. The company’s significant $102.3 million investment will be used to open a new 103,500 square-foot manufacturing facility in Brantford that will help meet the growing demand for its products.

To support Mitsui High-tec (Canada), Inc.’s expansion, the government is investing $3.1 million through Invest Ontario, the province’s investment attraction agency.

“As the sole motor core parts manufacturer for EVs, Mitsui High-tec (Canada), Inc. plays an important role in Ontario’s auto and advanced manufacturing sectors,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Their exciting new investment will create more good-paying jobs and help ensure that the cars of the future are built in Ontario by Ontario workers. Thank you, Mitsui High-tec (Canada), Inc., for choosing Ontario.”

This investment furthers Driving Prosperity, the government’s 10-year plan to transform Ontario’s automotive supply chain to build the cars of the future, including fully-battery electric vehicles. Over the last two and a half years, Ontario has attracted over $25 billion in transformative investments from global automakers, parts suppliers, and manufacturers of electric vehicle batteries and battery materials. With a talented workforce, state-of-the-art research and development facilities, clean steel manufacturing and an abundance of critical minerals, Ontario continues to be one of the most competitive places for businesses to invest and grow.

Quick Facts

• Driving Prosperity: The Future of Ontario’s Automotive Sector positions Ontario as a North American leader in developing and building the car of the future through emerging technologies and advanced manufacturing processes.
• Vehicle assembly and auto parts production directly supports approximately 97,000 workers in Ontario, as well as hundreds of thousands of indirect jobs. Ontario’s auto supply chain comprises over 700 parts firms, over 500 tool, die and mold makers, and over 300 connected and autonomous companies.
• As part of the 2023 Ontario Budget, the government introduced the Ontario Made Manufacturing Investment Tax Credit, which would provide a 10 per cent refundable Corporate Income Tax credit to help local manufacturers lower their costs, invest in workers, innovate and become more competitive.
• Through the Skills Development Fund, Ontario is investing more than $4.7 million to help over 360 technicians and jobseekers gain the skills they need to transition and launch their careers in the automotive manufacturing sector and emerging EV field.
• Invest Ontario is Ontario’s investment attraction agency. The agency pursues major investments that create good, high-paying jobs, promote innovation and stronger supply chains in key sectors including the automotive, advanced manufacturing, life sciences and technology sectors.

SOURCE: Ontario Premier's Office

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