Auto supplier giant Magna International is making a nearly half-a-billion dollar investment to EV-ready its Ontario footprint. The Aurora, Ontario-based company announced today it is investing $471 million into six facilities across the province. The majority of the money—$265 million—will go towards a new battery enclosure facility in Brampton. The remaining $206 million will go towards expanding Magna’s existing Guelph, Belleville, Newmarket, Windsor and Penetanguishene factories. “Magna’s roots in Ontario run deep, and we are excited about opening a new facility dedicated to a strategic electrification product. The Brampton facility, coupled with investment and growth in five existing Ontario facilities, allows Magna to keep up with customer demands across several product areas,” said Eric Wilds, Magna’s chief sales and marketing officer, in a press release. Read original article here.
