Ontario announces $23 million investment Magna operations

Feb 15, 2023 | Headlines, News

Ontario Premier Doug Ford at a Magna International manufacturing plant in Brampton, Ont., on Wednesday that his government was investing $23.6 million in the company for electric vehicle development.

“Magna is one of the great, made in Ontario success stories — we are thrilled to be here today to celebrate their $471 million investment to expand its Ontario Base operations,” Ford said at a media event inside the Magna plant.

Magna International is Canada’s leading global automotive supplier of mobile technology for the automotive industry.

The company has a net worth of $15.6 billion and has more than 200 locations worldwide, according to Forbes.

“This significant investment includes a $265 million EV battery enclosure facility which will strengthen Ontario’s end to end electric vehicle supply chain and add 500 more new job, right here in Brampton,” Ford said.

John O’Hara, president of Magna’s body and chassis production said he’s excited for the new investment following his company’s 65th anniversary, celebrating 49 manufacturing facilities and its more than 20 thousand employees in Ontario.

“It’s a great honour for me to announce that we are starting up a 490 thousand square foot facility to house battery trays for Ford Oakville— thanking the Ontario government for your ongoing support to Magna,” O’Hara said.

The plan is for Magna to open a new $265 million EV battery enclosure facility in Brampton later this year.

“Approximately 560 new jobs will be added in Brampton and to the surrounding region once the facility is at full production,” the Ontario government said in a media release.

“Up to 475 new jobs will be created across Magna’s five other facilities in Guelph, Windsor, Belleville, Newmarket and Penetanguishene,” the media release also said.

The company celebrated its newest multi-million dollar investment deal Wednesday with Ford, and Vic Fideli, the province’s Minister of Economic Development.

Other MPPs from the City of Brampton were present as well.

However, the Mayor of Brampton, Patrick Brown, was not in attendance.

“Businesses like Magna needs the right conditions to grow, and that’s why our government continues to create a competitive business environment and attract new investment,” Fideli said.

“We’re ensuring that the future cars and their parts are made in Ontario by Ontarians,” he continued.

The City of Brampton is situated just west of Toronto, in southwestern Ontario.

Although the investment was the main topic of discussion on Wednesday, reporters also asked the premier an array of questions about fundraising for his daughter’s wedding shower, as well as the recent sex scandal involving Toronto Mayor John Tory.