Ontario, Magna Investing $441m in EVs
Some C$48.4 million of the total investment will come from the provincial government, according to Reuters. The Ontarian government says that the investment should create 728 jobs and protect another 1,337 jobs at Magna’s Aurora, Brampton, Concord and St. Thomas plants.
The investment will help fund research into electric car concept development; parts for hybrid electric/battery electric vehicles (pictured); lightweight metallic components; an alternate energy project; and bio-based composite materials aimed at reducing vehicle weight and improving fuel efficiency, according an Ontario government release.
Earlier this month, Ford and Toyota signed a memorandum of understanding to collaborate on the development of advanced hybrid systems for light trucks and SUVs, while GM and electronics manufacturer LG launched a project to design and engineer electric vehicles together.
Energy Manager News
- Energy-as-a-Service: Charting a Path Through Complexity
- Demand Energy, EnerSys Complete Storage Project
- Lunera Intros Pathway and Entryway LED
- FPL to Buy and Phase Out Coal-Powered Plant, Saving Customers $129M
- Environmental, Health and Safety Software Moves Forward
- Johnson Controls: Interest, Investment in Energy Efficiency Up
- First-Ever Statewide Endorsement of Retail Supplier, by Delaware, Goes to Direct Energy
- Oberlin, Ohio, Ratepayers to Receive $2.2M in Rebates for Sale of RECs