World News

Ontario Defends Subsidies to Ford as Company Shifts Focus to Gas-Powered Trucks


The Ontario government maintains that the nearly $300 million in electric vehicle subsidies offered to Ford Motor Company four years ago were not wasted, even though the automaker opted to manufacture gas-powered trucks instead. The government emphasizes that the new factory will still generate new job opportunities.

The subsidies were initially provided to Ford to establish an electric vehicle plant at its Oakville facility. In a recent announcement, Ford revealed plans to convert the Oakville factory to produce next-generation vehicles and introduce electric vehicles available for purchase in 2025.
However, Ford later disclosed its decision to utilize the Oakville location for manufacturing F-Series Super Duty pickups, slated to commence in 2026.

Ontario’s Minister of Economic Development, Job Creation, and Trade, Vic Fedeli, expressed that this move by Ford will contribute to job creation in the province without compromising the overall electric vehicle production strategy.

Mr. Fedeli shared in an interview with The Epoch Times, “We’ve secured $43 billion in new EV and auto business in Ontario. Bringing back manufacturing was the primary objective. This development from Ford Canada is incredibly positive as it will result in the creation of hundreds of jobs in Ontario.”

Ford was granted a $295 million subsidy in 2020 for the production of electric cars at the existing Oakville plant. The minister emphasized that Ford had not yet received any of the subsidies, clarifying that the funding aimed to revive manufacturing in Ontario.

Mr. Fedeli highlighted that Ford’s receipt of funding is contingent on the hiring of individuals, ensuring that the money is disbursed only when jobs are secured and employees are actively working.

Mr. Fedeli affirmed that Ford remains committed to manufacturing “multi-energy” vehicles in Oakville, setting the stage for future EV production at the plant.

He added, “This lays the groundwork for the production of multi-energy vehicles, leading to a complete transition to the electrified sector in the near future.”

Ford noted that the Super Duty pickup is among its most sought-after vehicles. Ford President and CEO Jim Farley mentioned, “Even with our Kentucky Truck Plant and Ohio Assembly Plant operating at full capacity, we are unable to meet the demand.”



Source link

TruthUSA

I'm TruthUSA, the author behind TruthUSA News Hub located at https://truthusa.us/. With our One Story at a Time," my aim is to provide you with unbiased and comprehensive news coverage. I dive deep into the latest happenings in the US and global events, and bring you objective stories sourced from reputable sources. My goal is to keep you informed and enlightened, ensuring you have access to the truth. Stay tuned to TruthUSA News Hub to discover the reality behind the headlines and gain a well-rounded perspective on the world.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.