Ford Motor Company (F) Investing C$1.8 Billion To Build Electric Vehicles In Ontario

By Dan Anderson ● September 29, 2020
  • Ford Motor Company (NYSE: F) recently announced it is committing to invest $1.8 billion to become the first manufacturer in Canada to build full battery electric vehicles (BEVs)

Ford Motor Company (NYSE: F) recently announced it is committing to invest $1.8 billion to become the first manufacturer in Canada to build full battery electric vehicles (BEV). And Ford of Canada hourly employees ratified a 3-year globally competitive labor agreement.

The agreement between Ford Motor Company of Canada, Limited and Unifor enables Ford to commit to transform its Oakville Assembly Complex from an internal combustion engine (ICE) site to also become a BEV manufacturing facility, starting in 2024 along with introducing a new engine program at its Windsor operations.

The labor agreement also enables several operational improvements to increase the efficiency of Ford’s Canadian facilities such as competitive alternative work schedules to maximize production flexibility and an Enhanced temporary employee program. And Ford of Canada’s hourly employees also receive a number of benefits such as 1.) 2.5% wage increase twice over the life of the agreement 2.) C$7,250 ratification bonus for full-time permanent employees and $500 for temporary employees and 3.) reduced grow-in period for new hires from 11 years to eight years

“Working collaboratively with Unifor, and as discussions continue with both the federal and provincial governments, this agreement is an important step toward building a stronger future for our employees, our customers, and our communities,” said Dean Stoneley, president and CEO of Ford of Canada. “By introducing battery electric vehicle production at Oakville Assembly Complex, we are cementing our Canadian operations as a leader in advanced automotive manufacturing.”