New funding will support Linamar's Innovation Driving Green Technology Project
GUELPH, ON, Jan. 28, 2025 /CNW/ - Investments in zero-emission vehicles, battery technologies and semiconductors play a key role in making Canada a world leader in clean technologies. These investments are not only supporting Canada's shift to a net-zero economy but also creating and maintaining good jobs across the country, promoting growth in the automotive sector, securing battery supply chains, and supporting Canada's role as an important supplier of semiconductor technologies.
Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced an investment of up to $169.4 million in Linamar Corporation through the Strategic Innovation Fund. The funding will support Linamar's Innovation Driving Green Technology Project, which aims to accelerate the development of green technologies in the automotive sector, such as electric vehicle (EV) parts manufacturing and semiconductor packaging methods for EV batteries. Linamar's primary goal is to expand its portfolio of advanced electrified product offerings that reduce overall emissions, while at the time staying flexible to the needs of the end market as technologies evolve. The project will be implemented at Linamar's Ontario facilities located in Guelph, Salford, Welland and Windsor. This project will also involve the development of a new semiconductor packaging method, which will enhance the range and efficiency of EVs and reduce the time for a full charge.
Today's announcement builds on key agreements signed over the last year, which are attracting billions of dollars in investments and creating high-quality jobs in Canada's critical minerals, battery manufacturing and EV sectors. Linamar's Innovation Driving Green Technology Project will create approximately 2,000 full-time jobs and 300 co-op positions, and it will bring over $800 million in private investments. The project will focus on manufacturing the next generation of EV and battery technology parts. Canada has everything to be a global leader in battery manufacturing: access to global markets, a highly talented workforce, clean energy, world-leading innovation, a long-established and innovative semiconductor industry, and all the critical mineral resources necessary for battery supply chains. This project will further strengthen Canada's electric vehicle ecosystem and economy for years to come.
Quotes
"Today's announcement highlights Canada's skilled workforce and booming battery ecosystem. Linamar's groundbreaking project will drive innovation in EV parts and semiconductor manufacturing. It's a win for the economy, the environment and Canadian jobs, cementing our country's position as a leader in the EV supply chain."
– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
"Our government remains laser focused on positioning Ontario as a world-class jurisdiction for domestic and international companies to grow their businesses, promote innovation and build more resilient supply chains. Linamar's billion-dollar investment will not only create thousands of new, good-paying jobs for Ontario workers but also catalyze economic growth and reinforce our continued commitment to the province's key sectors."
– The Honourable Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade
"We are seeing a great deal of opportunity in our market across a broad range of technologies. Today's announcement helps ensure we maximize that opportunity for our employees and our community and is a great signal for the future of the automotive manufacturing sector in Ontario."
– Jim Jarrell, CEO and President, Linamar
Quick facts
- Founded in 1966, Linamar Corporation is a Canadian company headquartered in Guelph, Ontario. The company specializes in transportation, agriculture and medical innovations.
- In 2023, Canada's automotive manufacturing sector contributed nearly $18.6 billion to Canada's gross domestic product (GDP) and directly employed over 129,000 Canadians.
- Budget 2023 announced $500 million over 10 years to the Strategic Innovation Fund (SIF) to support the development and application of clean technologies. SIF is also directing up to $1.5 billion of its existing resources toward projects in clean technologies, critical minerals and industrial transformation.
- In February 2022, Innovation, Science and Economic Development Canada launched the Semiconductor Challenge Callout which sought ambitious, large-scale ideas that address how Canada can build on existing R&D and manufacturing strengths, contribute to a national network and supply chain, and position itself as a critical global supplier of semiconductors, including compound semiconductors, microelectromechanical systems and sensors, and advanced packaging.
- In March 2023, Canada reiterated its investment of up to $250 million for semiconductor projects through SIF.
- The semiconductor-related activities in Linamar's project will be supported under the SIF Semiconductor Challenge Callout.
Associated links
- Strategic Innovation Fund
- The future of Canadian vehicles
- The battery value chain
- Canadian semiconductor industry
- Semiconductor Challenge Callout
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SOURCE Innovation, Science and Economic Development Canada
Contacts: Audrey Milette, Press Secretary, Office of the Minister of Innovation, Science and Industry, [email protected]; Media Relations: Innovation, Science and Economic Development Canada, [email protected]
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