What’s Happening: Ford Motor Company announced plans to invest C$1.8 billion in its Oakville Assembly Complex, turning it into a high-volume electric vehicle (EV) manufacturing hub in Canada. The campus will be renamed Oakville Electric Vehicle Complex and is expected to start retooling and modernizing in the second quarter of 2024.
Why It Matters: This investment marks the first time a full-line automaker has announced plans to produce passenger EVs in Canada for the North American market. It also signals a bright future for Canadian EV production and auto sector employment, while helping to boost the competitiveness of Canada’s auto industry.
Key Points:
- The transformed campus will feature a 407,000 square-foot on-site battery plant utilizing cells and arrays from BlueOval SK Battery Park in Kentucky.
- Ford is taking a diverse strategic approach to expanding EV production by building new greenfield sites and transforming existing manufacturing facilities like those in Oakville and Cologne, Germany.
- The Oakville transformation is expected to secure thousands of well-paying jobs for Canadian autoworkers and position Canada as a global leader in the EV supply chain.
- Ford has also announced new EV manufacturing initiatives in West Tennessee, Michigan, Germany, Turkey, and an expansion of production at existing facilities in Dearborn and Mexico.
Bottom Line: Ford’s C$1.8 billion investment in transforming the Oakville Assembly Complex will play a vital role in the company’s transition to electric vehicles. The Oakville Electric Vehicle Complex will not only help secure thousands of jobs for Canadian autoworkers, but also strengthen Canada’s position as a global leader in the EV supply chain. This development is part of Ford’s broader strategy to expand EV production and make electric vehicles more accessible to millions of customers.
