Toyota makes $400M upgrade in Ontario

[projekktor id=’20249′]

Toyota is investing over $400 million in new equipment in its Cambridge and Woodstock assembly plants.

The federal and provincial government are contributing just over $100 million dollars to the project. The money will help upgrade equipment at the Cambridge plant to prepare for production of the next generation of Lexus vehicles, while a new metal stamping line is being installed at the Woodstock plant for increased production capacity.

Federal economic development minister Gary Goodyear says this expansion is an example of the success of the Automotive Innovation Fund. “Toyota, GM, Fiat-Chrysler, Ford and Honda are adding shifts. They’re making new investments, hiring workers, or adding new models that will be built right here in Canada.”

The governments say the project will create 25 new highly skilled jobs, while supporting the existing 8 thousand jobs at the two plants.

The timing of the announcement was moved up at the request of the Harper government, which is expected to call an election on Sunday.