Ford to invest $1.46 billion in Canada plants as part of Unifor union deal

Portage Motor Co will contribute C$1.95 billion ($1.46 billion) in its Oakville and Windsor plants in Canada as a component of a conditional arrangement with Canadian autoworkers, Unifor association National President Jerry Dias said on Tuesday.

The arrangement incorporates retooling the Oakville plant to manufacture five electric vehicle (EV) models somewhere in the range of 2025 and 2028, with the primary EV moving off the mechanical production system in 2025, Dias said.

The government, alongside the Ontario government, is happy to put resources into turning the Oakville plant over to the creation of EVs, a venture that could keep the office open for quite a long time, an administration source affirmed on Tuesday.

“We’re amidst arrangement” of how much cash the Ontario government would add to the Ford plant’s electric vehicle creation line, Ontario Premier Doug Ford said on Tuesday.

He didn’t state how much the territory was thinking about to contribute.

The Toronto Star and the Canadian Broadcasting Corp have detailed that the two governments could contribute up to C$500 million.

Credit Suisse investigator Dan Levy said the arrangement is gainful for Ford as it deflects a strike at the U.S. automaker’s Canada plants and addresses save limit.