Ford to Build Electric Vehicles in Canada with $1.8 Billion CAD Investment
Ford Canada has announced the company will invest $1.8 billion CAD ($1.34 billion USD) to become the first manufacturer in Canada to build full battery electric vehicles. Last week, Unifor National, the union representing employees had reached provisional agreement on the deal, officially announced today by Ford.
The news comes as the company’s hourly employees ratified a three-year labour agreement. Electric vehicles will be built at the company’s Oakville, Ontario, Assembly Complex, which will also become a battery electric vehicles (BEVs) facility starting in 2024.
“Working collaboratively with Unifor, and as discussions continue with both the federal and provincial governments, this agreement is an important step toward building a stronger future for our employees, our customers and our communities,” said Dean Stoneley, president and CEO, Ford of Canada, in a statement.
“By introducing battery electric vehicle production at Oakville Assembly Complex, we are cementing our Canadian operations as a leader in advanced automotive manufacturing,” added Stoneley.
Hourly employees at Ford will see a 2.5% wage increase twice over the lifetime of the agreement and also receive a $7,250 CAD ratification bonus for full-time employees and $500 for temporary employees.
Ford currently has an all-electric Mustang Mach-E, which has an estimated range of 475 kilometres (295 miles) and a 0-60 mph time of mid-6 seconds or so. The company also plans to make an electric Ford F-150 as well, coming in 2022.