“Magna International Inc. is going to spend $430 million to develop electric car technology in Ontario. The research and development is expected to create 728 jobs and protect approximately 1,300 jobs at Magna factories located in Brampton, Aurora, St. Thomas and Concord.
The province isn’t slacking – Economic Development Minister Sandra Pupatello said that Ontario will contribute $48 million.
The investments will help fund 19 research and development projects over the next six years and they include developing concept cars, the related parts, alternative energy sources and ways to improve fuel efficiency.
This doesn’t come as a surprise as Premier Dalton McGuinty has been a big and vocal fan of alternative energy sources. Earlier this month he was in Markham, Ontario where he announced an $80 million fund to spur the development and investment in electric car-charging stations.”