Hanon Systems Boosts EV Supply Chain in Canada
Monday, Oct 28, 2024 3:07 pm ET
1min read Hanon Systems, a global leader in automotive thermal and energy management solutions, has announced a significant investment in Canada to expand its manufacturing capabilities for electric vehicle (EV) components. The company is investing $155 million to build a new facility in Woodbridge, Ontario, which will be North America's first high displacement e-compressor plant. This strategic move aligns with Hanon Systems' global e-compressor manufacturing strategy and offers several advantages for both the company and the province.
One of the primary reasons for Hanon Systems' decision to invest in Ontario is the province's robust end-to-end auto supply chain, skilled workforce, and wealth of critical minerals. Additionally, Ontario's thriving tech ecosystem and supportive government policies have created an ideal environment for the company to grow and expand its operations. This investment is expected to create nearly 300 new skilled jobs by the end of 2026, further strengthening Ontario's reputation as a North American leader in automotive manufacturing.
Hanon Systems' investment in Woodbridge will contribute significantly to Ontario's EV supply chain development. The new facility will have the capability to produce up to 900,000 e-compressors annually, meeting the growing demand for critical high-quality EV components from world-class automakers in both Canada and the United States. This expansion will enhance Ontario's EV supply chain capabilities and help the province build the cars of the future.
The $10 million grant from the Invest Ontario Fund will support Hanon Systems' expansion and Ontario's EV sector growth. This strategic investment reflects the government's commitment to fostering innovation and attracting global companies to the province. By supporting Hanon Systems' growth, the government is helping to create new jobs, stimulate economic development, and strengthen Ontario's position in the global EV market.
In conclusion, Hanon Systems' expansion in Canada is a testament to the province's strong automotive industry and supportive business environment. The company's investment in Woodbridge will not only create new jobs and stimulate economic growth but also contribute to Ontario's transition to an electric vehicle future. As the global demand for EVs continues to rise, Hanon Systems' new facility in Woodbridge will play a crucial role in meeting this demand and solidifying Ontario's position as a leader in the EV supply chain.
One of the primary reasons for Hanon Systems' decision to invest in Ontario is the province's robust end-to-end auto supply chain, skilled workforce, and wealth of critical minerals. Additionally, Ontario's thriving tech ecosystem and supportive government policies have created an ideal environment for the company to grow and expand its operations. This investment is expected to create nearly 300 new skilled jobs by the end of 2026, further strengthening Ontario's reputation as a North American leader in automotive manufacturing.
Hanon Systems' investment in Woodbridge will contribute significantly to Ontario's EV supply chain development. The new facility will have the capability to produce up to 900,000 e-compressors annually, meeting the growing demand for critical high-quality EV components from world-class automakers in both Canada and the United States. This expansion will enhance Ontario's EV supply chain capabilities and help the province build the cars of the future.
The $10 million grant from the Invest Ontario Fund will support Hanon Systems' expansion and Ontario's EV sector growth. This strategic investment reflects the government's commitment to fostering innovation and attracting global companies to the province. By supporting Hanon Systems' growth, the government is helping to create new jobs, stimulate economic development, and strengthen Ontario's position in the global EV market.
In conclusion, Hanon Systems' expansion in Canada is a testament to the province's strong automotive industry and supportive business environment. The company's investment in Woodbridge will not only create new jobs and stimulate economic growth but also contribute to Ontario's transition to an electric vehicle future. As the global demand for EVs continues to rise, Hanon Systems' new facility in Woodbridge will play a crucial role in meeting this demand and solidifying Ontario's position as a leader in the EV supply chain.
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