Magna International Inc., committed Feb. 15 to investing $470 million to open a new battery enclosures plant in Brampton, Ont., as well as expand five of its other auto parts manufacturing facilities spread throughout southern Ontario.
The spending will create more than 1,000 new jobs across the six sites, while allowing Magna to keep up with strong customer demand across several new and existing product lines, said Eric Wilds, the company’s chief sales and marketing officer.
John O’Hara, president of Magna’s body and chassis division Cosma, told Automotive News Canada the new Brampton plant will supply enclosures for the “third tranche” of the F-150 Lightning program over a roughly two-year period. A Magna plant in St. Thomas, outside London, Ont. is already building the component for the first two stages of the program, he added.
In November, industry analyst Sam Fiorani said his forecast has fully electric versions of the Explorer and Aviator booked for Oakville. The vice-president of global vehicle forecasting at U.S.-based AutoForecast Solutions, said he expects production of the two SUVs will start in Oakville in 2024 following a retooling project.
Magna’s spending on the new Brampton plant accounts for $265 million of the nearly half-billion-dollar investment, according to the Ontario ministry of economic development, job creation and trade. The facility is scheduled to begin producing battery enclosures in the second quarter of this year. Ontario Premier Doug Ford said the spending by the homegrown auto parts giant is “another tremendous show of confidence” in the province’s auto sector.
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Magna investing $470M on battery enclosures factory, 5 other Ontario plantsMagna International Inc., committed Feb. 15 to investing $470 million to open a new battery enclosures plant in Brampton, Ont., as well as expand five of its other auto parts manufacturing facilities spread throughout southern Ontario.
Read more »