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
- Flying High: Energy Efficiency, Renewables and Airports
- Want a Green and Energy Conscious Business? Try These Ideas
- Beazer Homes Wins Energy Star Award
- Infineon Unveils Integrated LED
- FMPA: Power Costs Expected to Dwindle 30% to 40% Within Years
- Name-Dropping: CUB and Illinois AG Say Nicor Advanced Energy Should Change Identity
- Saving Energy – In the Restroom
- UAB Getting First Solar Array