Cambridge, a city known for its rich history and vibrant culture, is set to take the global stage as a leader in electric vehicle (EV) battery production. This exciting development comes as Dana Canada Corporation, a prominent manufacturer in drivetrain and electric propulsion motor systems, announced a massive investment of nearly $60 million. Alongside this landmark investment, over 100 new jobs will be created in the city.
The investment will be directed towards expanding Dana’s manufacturing capacity for thermal management systems, a crucial component for EV batteries and electronics. This expansion will take place across the company’s two facilities in Oakville and Cambridge. The Cambridge plant, which currently produces batteries for the new Ford Lightning and 2024 Cadillac LYRIQ, will play a pivotal role in this transformative venture.
Dana’s decision to invest in Cambridge underscores the confidence placed in the city and its skilled workforce. With operations spanning across 31 countries, Dana recognizes the potential of Cambridge to become one of its primary manufacturing sites in Canada. Moreover, this investment will support the operational growth of the Oakville Technology Centre.
Through the expansion efforts, it is estimated that 105 new jobs will be created, further contributing to the local economy and surrounding communities. These well-paying jobs will provide stability and enhance economic prosperity for individuals and families in the area.
The Government of Ontario, fully aware of the significance of this investment, has pledged support to Dana. In collaboration with Invest Ontario, the government’s investment attraction agency, the province will provide $2.5 million to aid Dana in achieving its expansion goals.
Cambridge, once at the bottom of the global list for EV production investments, will now rise to prominence with the support and commitment of Dana. Bryan Riddell, recognizing the importance of job creation, expressed gratitude to Dana and acknowledged the invaluable partnership between the company and the government.
As Cambridge embraces this new chapter, Mayor Jan Liggett, who unfortunately could not attend the event, highlighted the city’s long-standing tradition of innovation. She eagerly looks forward to seeing Dana’s next phase unfold and the positive impact it will have on the community.
FAQ
1. How will Dana’s investment benefit Cambridge?
Dana’s investment of nearly $60 million will expand manufacturing capacity, create over 100 new jobs, and position Cambridge as a world leader in electric vehicle battery production.
2. What component will the investment focus on?
The investment will be directed towards expanding the manufacturing capacity of thermal management systems, which are crucial for EV batteries and electronics.
3. How will the government support Dana’s expansion?
The Government of Ontario will provide $2.5 million through Invest Ontario, the government’s investment attraction agency, to aid Dana in achieving its expansion goals.
4. How many jobs are expected to be created?
Approximately 105 new, well-paying jobs will be created as a result of the expansion efforts in Cambridge and the surrounding area.
5. How does Dana’s investment change Cambridge’s position globally in EV production?
Previously at the bottom of the global list, Cambridge will now become a significant player in producing electric vehicle technology, thanks to Dana’s investment.