The shift towards electric vehicle and battery manufacturing is opening up many new opportunities for existing suppliers in the London, Ont., region to meet the demand for parts and technologies that are essential for the production of EVs.
The federal government is pumping $300,000 towards a pilot project for the London Economic Development Corporation (LEDC) to support the long-term growth of the EV sector in the London Region.
The government says that London and its surrounding communities are at the forefront of this new chapter for southern Ontario’s automotive sector. The shift towards electric vehicle and battery manufacturing is opening up many new opportunities for existing suppliers in the region to meet the demand for parts and technologies that are essential for the production of EVs. They are also demonstrating to foreign businesses that southern Ontario is the destination to support the expansion of the automotive industry.
To fully seize this opportunity, LEDC will use the Government of Canada’s investment to expand its collaboration with Volkswagen (VW)’s suppliers in Germany and Spain. This will attempt to connect the supply chains of three of VW’s most prominent global battery manufacturing hubs. Through this strategic alliance, it is expected that up to 120 companies and organizations will be able to join VW’s global supply chains for battery manufacturing. This will try and ensure that Canadian companies have the opportunity to contribute to this growing and important market.
“The London Economic Development Corporation is forming the important partnerships that will empower 120 companies to integrate into Volkswagen’s global supply chain and make sure Canada is at the forefront of EV innovation and production. Strategic investments, like the one made today, are propelling our nation towards a thriving future in the electric vehicle sector, while also creating good local jobs and developing new capabilities to support Canada’s growing EV and manufacturing sectors,” said Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario.
