Goodyear spending $575M to expand Ontario plant, produce EV tires
Published August 12, 2024 at 12:57 pm
Goodyear Canada is planning to spend more than $575 million to expand and modernize an eastern Ontario plant to produce electric vehicle and all-terrain tires and make its processes more energy efficient.
Prime Minister Justin Trudeau and Premier Doug Ford were on hand for an announcement Monday at the factory in Napanee, and the project is getting financial support from both levels of government.
Goodyear is set to receive up to $44.3 million from the federal Strategic Innovation Fund and $20 million through the provincial Invest Ontario.
The project is expected to create 200 new jobs by 2027.
It should also get the plant to net-zero emissions by 2040.
Trudeau says Goodyear’s announcement is another vote of confidence in Canada’s auto sector workers.