TORONTO, March 2, 2017 /CNW/ - Today's announcement by the Ontario government appears to do nothing to address a climate of investment uncertainty related to what has been our number one request to the Province of Ontario – the urgent need to address out of control Class A industrial electricity rates that can be as high as 2 to 3 times higher in Ontario than in competing auto jurisdictions. "We will continue to reach out to the province to see what can be done but this is a major disappointment for vehicle assemblers and their parts and component manufacturing operations", said Mark Nantais, President of the Canadian Vehicle Manufacturer Association.
Auto manufacturing contributes employment for over 124,000 Ontarians and contributes millions to the provincial economy each year. High electricity rates that remain uncompetitive with other jurisdictions vying for automotive investment is an issue exacerbated by future carbon pricing and cap and trade policies. These are policy issues that need to be addressed in the short term to support Ontario's vehicle manufacturing competitiveness and temper the overall cost of doing business in the province.
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 90 years. Its membership includes Fiat Chrysler Automobiles (FCA) Canada Inc.; Ford Motor Company of Canada, Limited and General Motors of Canada Company. Collectively its members account for 62% of vehicles produced in Canada, operate 5 vehicle assembly plants as well as engine and components plants, and have over 1,300 dealerships. 130,000 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, 416.364.9333, 416-560-4005