Government of Canada’s Investment Fund Infusion will better position the auto sector for innovation and technology
OAKVILLE, ON, Jan. 4, 2013 /CNW/ – The Canadian Vehicle Manufacturers
Association (CVMA) welcomes the Government of Canada’s commitment to
support innovation and new investments in Canada’s auto industry.
“With today’s announcement, Canada’s auto industry is better positioned
to compete and win new investment which will help to drive the economy
and create more opportunities for Canadians”, said Mark Nantais,
president of the CVMA.
“This announcement demonstrates the government’s continued recognition
of the importance of the auto sector, which remains Canada’s largest
manufacturing industry and manufacturing exporter”. With up to nine
jobs linked to each automotive assembly job, communities across Canada
benefit from additional investment through related manufacturing and
Initiatives like the Automotive Innovation Fund help Canada compete for
automotive investments with other jurisdictions around the world, and
are important considerations when evaluating the many components that
factor into the business cases for additional investment.
About the Canadian Vehicle Manufacturers Association (CVMA)
The Canadian Vehicle Manufacturers’ Association is the industry
association that has represented Canada’s leading manufacturers of
light and heavy duty motor vehicles for more than 85 years. Its
membership includes Chrysler Canada Inc.; Ford Motor Company of Canada,
Limited; General Motors of Canada Limited; and Navistar Canada, Inc.
Collectively its members account for 65% of vehicles produced in
Canada, operate 5 vehicle assembly plants as well as engine and
components plants, and have over 1,300 dealerships. 125,000 jobs are
directly tied to vehicle assembly in Canada. Direct and indirect jobs
associated with vehicle manufacturing are estimated at over 500,000
across Canada. Please visit www.cvma.ca.
SOURCE Canadian Vehicle Manufacturers’ Association (CVMA)