Ford Invests $1.34 Billion To Make Fully Electric Cars In Canada 

Ford has made a $1.34 billion investment in Canada which promises to produce fully electric vehicles in Canada. The deal is part of an agreement between Ford and Unifor, a trade union in Canada. The deal ensures ob security for Ford's employees and also the conversion of Oakville assembly complex from an internal combustion engine site to a BEV manufacturing facility.

"Based on the collective agreement ratified by employees today, Ford is committing to transform its Oakville Assembly Complex from an internal combustion engine (ICE) site to also become a BEV manufacturing facility, starting in 2024, as well as introducing a new engine program at its Windsor operations," the company said in a statement.

The Ford F-150 Pickup Truck is the next electric car that the legendary carmaker is working on

This deal gives Ford employees in Canada new benefits. It offers incentives like -

• Competitive alternative work schedules to maximize production flexibility
• Enhanced temporary employee program
• 2.5 per cent wage increase twice over the life of the agreement
• $5,417 ratification bonus for full-time permanent employees and $373 for temporary employees
• Reduced grow-in period for new hires from 11 years to eight years

This is Ford's first big foray into electric cars

"Working collaboratively with Unifor, and as discussions continue with both the federal and provincial governments, this agreement is an important step toward building a stronger future for our employees, our customers and our communities. By introducing battery electric vehicle production at Oakville Assembly Complex, we are cementing our Canadian operations as a leader in advanced automotive manufacturing," said Dean Stoneley, president and CEO of Ford in Canada.

The Oakville plant alone is home to 3,600 employees. It produces the Ford Edge and Lincoln Nautilus. This site also made the Ford Flex and Lincon MKT. Currently, the only electric cars Ford makes are the Mustang Mach-E and the Ford F-150 pickup truck but even that's going to enter production in 2022.