Canada's Minister responsible for the Federal Economic Development for Southern Ontario (FedDev Ontario) made multiple appearances in London on Wednesday.
Filomena Tassi, alongside London North Centre MP Peter Fragiskatos, announced the London Economic Development Corporation (LEDC) will receive $300,000 for a pilot project to support the long-term growth of the EV sector in the London Region.
"We are thrilled to secure this funding, which will be instrumental in fostering strategic partnerships, targeting prospective opportunities, R&D capabilities and strengthening our workforce development capacity within this emerging industry. This historic regional investment has successfully united our communities, post-secondary institutions, and talented newcomers," President and CEO of the LEDC, Kapil Lakhotia said.
The shift towards electric vehicle and battery manufacturing is opening up opportunities in southwestern Ontario. LEDC plans to use this investment to expand the partnership between Volkswagen (VW)'s forthcoming EV battery plant in St. Thomas and it's suppliers in Germany in Spain. It's believed up to 120 companies and organizations will be able to join VW’s global supply chains for battery manufacturing through this alliance.
LEDC's specific spending will go towards recruiting consultants who specialize in the EV market, recruiting the experts that know the supply chains in Europe and other markets, and to go after targeted prospects not already in southwestern Ontario, knowledge that isn't readily available in the area.
"It's not the amount of money being spent," Lakhotia added. "It's the start of the journey of the evolving EV industry."
Earlier in the day, Tassi announced a $4 million investment for ANVO Laboratories, a London-based science and research-oriented pharmaceutical group.
"ANVO Laboratories is making incredible strides in the health sciences, and the Government of Canada is supporting them so they can continue to grow. Making smart investments in critical biomanufacturing will strengthen our healthcare system and ensure everyone receives the care they deserve," Tassi said.
ANVO Laboratories specializes in developing, manufacturing, marketing, and distributing high-quality generic specialty pharmaceutical products globally.
The funding will be used to accelerate production of specialized packaging for Canadian drug manufacturers, support made-in-Canada pharmaceutical production, and strengthen the biomanufacturing supply chain. According to the federal government, 45 new skilled jobs will be created thanks to this investment.
Fragiskatos called the funding announcement "good for workers, good for business, good for everyone."
