Prime Minister Stephen Harper, along with Ontario Minister of Economic Development Brad Duguid, will make an announcement this morning at the Toyota plant in Cambridge, Ont.
Earlier this month, Harper announced the renewal of a fund to stimulate research and innovation in Canada's automotive industry.
The fund was established in 2008 as part of efforts to bail out Canada's struggling automotive industry early in the last recession.
The five-year Automotive Innovation Fund required manufacturers to put up some of their own money before applying for funding targeted at specific research and development projects. The subsidy program was touted as an incentive for automakers to keep their Canadian plants open and protect domestic jobs.
The Jan. 4 announcement committed another $250 million to the fund over five more years.
Under the original fund, the federal government contributed repayable loans to four companies, with Toyota eligible for up to $70.8 million for developing more fuel-efficient vehicles, including electric vehicles.
Prime Minister Stephen Harper will speak at the Toyota plant in Cambridge, Ont., on Wednesday morning. (Chris Young/Canadian Press)Anda sedang membaca artikel tentang
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