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 services employment.
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)For further information:
Mark Nantais, President
Canadian Vehicle Manufacturers' Association