The federal government and the Ontario government are investing more than one billion dollars to help Stellantis modernize its car factories and transform to electric vehicle manufacturing.
Specifically, the Canadian government invested 529 million dollars, while the Ontario government invested 513 million dollars.
Stellantis, which was established last year through the merger of Fiat Chrysler and the French group PSA, which includes the brands Peugeot, Citroën, Opel, and Vauxhall, is investing another 2.6 billion dollars in projects to transition towards electric vehicles.
These massive investments will allow the construction of flexible assembly lines and the production of large quantities of electric and hybrid vehicles at the company's factories in the cities of Windsor and Brampton.
These investments are part of Canada’s ambitious plans to expand electric vehicle production and transition to clean energy and environmentally friendly technologies.
Last month, the governments of Canada and Ontario each invested 259 million dollars to support the transition to electric vehicles at General Motors' assembly line, which will become the first integrated factory for manufacturing commercial electric vehicles in Canada.
The two governments separately promised in March to inject 190 million dollars to support the Honda factory in Alliston, Ontario, to support the company's transition to electric vehicle production.
Stellantis and LG Energy Solutions announced that same month a joint investment of 5 billion dollars to build an integrated car battery factory in Canada.
The automotive sector is considered one of the important sectors in the Canadian economy, contributing about 16 billion dollars to the total GDP and providing approximately 500,000 jobs.