March 3, 2005
GM announces $2.5 billion investment in Canada
Oshawa, Ontario – General Motors of Canada has announced a $2.5 billion investment for its Canadian operations, including $400 million from federal and provincial governments.
GM of Canada president Michael Grimaldi made the announcement March 2, adding that it represents the largest and most comprehensive automotive investment in Canadian history. Known as the “Beacon Project”, it will strength research and development, automotive engineering and manufacturing capacities in Canada.
Investments will include new vehicle and engine technology at its operations in Oshawa, St. Catharines and the CAMI joint venture in Ingersoll, Ontario. Oshawa Car Plant 1 will build the 2006 Chevrolet Impala and Monte Carlo, while CAMI will build the 2006 Pontiac Torrent compact SUV. GM will also introduce a new “Displacement-on-Demand” V8 engine to be built in its St. Catharines powertrain plant.
Other investments will include fuel cell research; a virtual product development centre; flexible manufacturing processes and technologies at its Oshawa Car Assembly Plant 2; environmental technologies in its new paint shop at Oshawa Autoplex; skills upgrading and training program; apprenticeship programs; internship opportunities for foreign-trained professionals; and approximately 500 new jobs within the General Motors of Canada workforce.
GM will also investment in university programs, including a new Automotive Centre of Excellence at the University of Ontario Institute of Technology, and a broad Canadian Automotive Innovation Network comprised of selected universities in Ontario, Quebec and British Columbia. The company plans to develop Canada’s first accredited degrees in automotive engineering and design.
General Motors plans eventually to be able to design and manufacture a vehicle entirely in Canada.