Goodyear Tire & Rubber Co. in Canada is investing C$575 million to upgrade its plant in Napanee, Ontario, according to a statement released by the country’s Prime Minister Justin Trudeau.
The project to modernise and expand the plant will create 200 new jobs by 2027 and secure 1,000 jobs in Napanee, the prime minister’s office said in a statement.
The federal government will provide C$44.3 million in funding for the expansion project, while the Ontario provincial government will contribute C$20 million to support key components of the project, according to the statement.
The investment is the latest in Canada’s efforts to woo companies involved in all levels of the electric vehicle supply chain to safeguard the future of its manufacturing heartland in Ontario as the world seeks to cut carbon emissions.
“It’s another vote of confidence in Canada’s auto sector workers,” Trudeau said.
Goodyear’s project is expected to increase its production capacity, including of EV and all-terrain tyres, and get its Napanee plant to net-zero emissions by 2040.