Canada names new auto industry leader, a former Toyota executive image

The governments of Ontario and Canada have named a former senior manager at Toyota as the Canadian auto industry czar, asked to spur more investment spending in the country’s struggling automotive industry.

The former chairman of Toyota’s Canadian operations until he retired earlier this year, Ray Tanguay, has been named the leader of a newly formed automotive investment committee that would support the governments when dealing with tax breaks and other incentives for automotive companies – their bid is to lure new investment into manufacturing and keep the ones they already have. “We have to do a better job showing there are better opportunities in Canada,” commented Tanguay, an Ontario native, during a press event. “We have to show you can have a better bottom line” in Canada. Canada’s Industry Minister James Moore and Ontario’s Minister for Economic Development, Brad Duguid hinted the governments are prepared to bring new financial incentives to the table, adding they already provided around $10 billion in support for GM, Chrysler and other car manufacturers during the Great Recession.

Tanguay was already the chairman of the Canadian Automotive Partnership Council, a group that was focusing on delivering increased investment and auto production in the country. His new role will make him more active in finding when automakers are considering expanding, downsizing or searching for new locations for plants in Canada. The country, once the fourth-biggest auto production nation in the world, has lost its place because of rising labor costs, a strong local currency and the government’s past desire to reign down on financial support offered to carmakers.

Via Automotive News