Prime Minister Stephen Harper today announced an Automotive Innovation Fund investment in Toyota Motor Manufacturing Canada (TMMC) for an initiative that is creating jobs, growth and long-term prosperity. The Prime Minister made the announcement at TMMC's Cambridge facilities. He was accompanied by Diane Finley, Minister of Human Resources and Skills Development, Gary Goodyear, Minister of State (Science and Technology)(Federal Economic Development Agency for Southern Ontario, Dalton McGuinty, Premier of Ontario, and Brad Duguid, Ontario's Minister of Economic Development and Innovation.
"Our Government is committed to helping Canada's automotive sector remain globally competitive and prosperous," said the Prime Minister. "Today's support will allow Toyota Motor Manufacturing Canada to produce a hybrid version of the Lexus Sport Utility Vehicle in Cambridge, the first hybrid model ever built in Canada. This milestone initiative to build greener more fuel efficient cars will advance Canadian innovation and increase our ability to compete internationally resulting in more high-paying, stable jobs."
The project will generate approximately 400 jobs at TMMC's Cambridge facility, and will involve building a new blended assembly line that will permit increased production of the current Lexus model. Production of the RX 450h hybrid is expected to begin in 2014.
Federal funding for the project is provided through the Automotive Innovation Fund (AIF), a $250-million, five year program that supports strategic, large-scale research and development projects in the automotive sector. Introduced in 2008, and renewed for another five years in January 2013, the AIF is designed to help automotive firms strengthen their capacity for innovation and to position them to compete successfully in the global economy.