Government of Canada's Investment Fund Infusion will better position the auto
sector for innovation and technology
OAKVILLE, ON, Jan. 4, 2013 /CNW/ - The Canadian Vehicle Manufacturers
Association (CVMA) welcomes the Government of Canada's commitment to support
innovation and new investments in Canada's auto industry.
"With today's announcement, Canada's auto industry is better positioned to
compete and win new investment which will help to drive the economy and create
more opportunities for Canadians", said Mark Nantais, president of the CVMA.
"This announcement demonstrates the government's continued recognition of the
importance of the auto sector, which remains Canada's largest manufacturing
industry and manufacturing exporter". With up to nine jobs linked to each
automotive assembly job, communities across Canada benefit from additional
investment through related manufacturing and services employment.
Initiatives like the Automotive Innovation Fund help Canada compete for
automotive investments with other jurisdictions around the world, and are
important considerations when evaluating the many components that factor into
the business cases for additional investment.
About the Canadian Vehicle Manufacturers Association (CVMA)
The Canadian Vehicle Manufacturers' Association is the industry association
that has represented Canada's leading manufacturers of light and heavy duty
motor vehicles for more than 85 years. Its membership includes Chrysler Canada
Inc.; Ford Motor Company of Canada, Limited; General Motors of Canada Limited;
and Navistar Canada, Inc. Collectively its members account for 65% of vehicles
produced in Canada, operate 5 vehicle assembly plants as well as engine and
components plants, and have over 1,300 dealerships. 125,000 jobs are directly
tied to vehicle assembly in Canada. Direct and indirect jobs associated with
vehicle manufacturing are estimated at over 500,000 across Canada. Please
Mark Nantais, President Canadian Vehicle Manufacturers' Association
SOURCE: Canadian Vehicle Manufacturers' Association (CVMA)
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CO: Canadian Vehicle Manufacturers' Association (CVMA)
-0- Jan/04/2013 20:07 GMT
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