Prime Minister Justin Trudeau and Ontario Premier Doug Ford have secured a $575 million investment from Goodyear Tires and Rubber Company to advance the electric vehicle industry. The investment will expand the Nappanee plant and boost production of tires for electric and all-terrain vehicles.
The federal government will provide up to $44.3 million in grants and the provincial government will provide up to $20 million, which will help maintain 1,000 existing jobs at the Nappanee plant and create 200 new jobs by 2027.
“Goodyear’s investment is a testament to our confidence in Canada’s electric vehicle industry and will contribute to protecting the environment and creating jobs,” said Prime Minister Trudeau.
Ontario Premier Ford also said, “This investment will be a turning point for the electric vehicle industry in Ontario.” Goodyear Tire aims to be net-zero at its Nappanee plant by 2040 and plans to reduce greenhouse gas emissions by 10 percent by 2030.