GM Canada plans to make investments in the development and research Canadian Engineering Centre in Oshawa, Ontario.
GM Canada President Kevin Williams is expected to make the official announcement today, July 24th, about the company’s research and development centre in Canada. The Canadian Prime Minister Stephen Harper; Minister of Finance Jim Flaherty and Premier of Ontario Dalton McGuinty are expected to attend the event.
As GM received $9.5 billion from the Ontario and Canadian governments as part of the automaker’s bailout, the company agreed to several restructuring commitments, including the launch of five new models, new hybrid production at its CAMI and Oshawa facilities, adding transmission production at St. Catharines powertrain facility, keeping 16% of GM’s North American vehicle production, not closing the facilities until 2016 and continuing manufacturing of V-6 and V-8 engines at St. Catharines.
Currently the Oshawa plant builds the majority of GM models from the Impala and Camaro to the Chevrolet Equinox and Buick Regal, and it employs over 4,500 workers. The Globe and Mail reported that the company plans to invest several hundred million dollars by 2016 to meet conditions of its bailout.