Magna International and the Ontario Government will announce later today a collaboration on green vehicles. Supporting the Magna E-Car, Ontario’s contribution will create 728 new jobs while protecting 1,337.
Magna International is launching an initiative that’s investment will total a speculated of more than$400 million. The project, mainly based in Aurora, Ont., will amplify the company’s work on electric car concept development, hybrid electric/battery electric vehicle part production, the development of advanced lightweight metallic components, focus on an alternate energy project and the development of advanced bio based composite materials to reduce vehicle weight and improve fuel efficiency.
This contribution is just one of the ways Ontario is promoting the use of electric vehicles. Residents of Ontario who purchase an electric vehicle are able to receive between $5,000 and $8,500 and “green license plates” that allow electric vehicle drivers access to province HOV lanes. Additionally, this investment will support the government’s vision to have one in 20 cars in Ontario electrically powered by 2020.
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Very little information has been released about the project, but more will be unveiled at an official announcement this afternoon at Magna’s Brampton, Ont plant.
Magna International’s Magna E-Car Systems is a Magna and Stronach Group partnership created to deliver “innovative solutions for future mobility while increasing current capabilities, which include the ability to develop, manufacture, and integrate a wide range of hybrid and electric components and total vehicle systems.”
Magna International is Ontario’s leading automotive manufacturer. Its R&D department employs 17,900 and has 44 plants across Ontario. Ontario’s contribution will support jobs located at Magna’s plants located in Aurora, Brampton, Concord and St Thomas.