Province, Feds to pledge millions to Toyota at pre-election event

The Ontario government is offering the company a 42 million dollar grant while the federal government will give them a repayable 58 million dollar loan.

The announcement is expected to be formally announced on Friday morning.

The reports say Toyota will be investing $421-million for the upgrades and expansion. As for Cambridge the money will upgrade the location to produce the next generation of Lexus vehicles.

8,000 people work with the Toyota Ontario group.

Back in April Toyota moved production of the Corolla to Mexico.

The announcement may also assist the Tories burnish their job-creation credentials within the face of assaults by each Liberals and New Democrats that Ottawa has not accomplished sufficient to protect useful manufacturing jobs within the province.

Earlier this month, Duguid described the Ontario government as being “passionate” about the auto sector and ensuring future production in the province.

Production at Toyota’s new Mexican and Chinese plants is to start in 2019, with annual output estimated at 200,000 vehicles.