Magna International has announced the company is investing $470 million into Ontario-based facilities.
The auto parts manufacturer will grow its locations in Guelph, Belleville, Newmarket, Windsor and Penetanguishene. The company is also building a new battery enclosures facility in Brampton to support Ford F-150 Lightning production.
The new Brampton site will begin operations in Q2 2023 and bring 560 new jobs to the region. The other facilities will see expansions to current operations.
The exact investment is:
- $265 million for a new battery enclosure facility in Brampton
- $140 million in electrical coating and painting operation in Guelph
- $34 million investment in the lighting division in Belleville
- $24 million investment in the electrical door and hood latching units in Newmarket
- $6 million investment in aluminium pickup bed cover operations in Windsor
- $1.8 million investment in tailgate hinges work in Penetanguishene
Magna’s Chief Sales and Marketing Officer, Eric Wilds, said this about the announcement:
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.
To secure the expansion, Â Magna confirmed that the Ontario government is supporting them with $23.6 million in grants.
