Minister of Industry Highlights Federal Investment in Toyota to Support Jobs in Canada

WOODSTOCK, ONTARIO--(Marketwire - Aug. 5, 2011) - The Honourable Christian Paradis, Minister of Industry, and the Honourable Gary Goodyear, Minister of State (Science and Technology), joined Toyota Motor Manufacturing Canada today in announcing the production of the RAV4 electric vehicle at its West Plant in Woodstock.

"Canadians have given our government a strong mandate to stay focused on what matters: creating jobs and economic growth. We are doing just that. Our government's long-term goal remains to provide the right conditions for a sustainable and viable North American auto sector," said Minister Paradis. "We are pleased to support the development and implementation of this innovative, fuel-efficient technology in Canada."

The production of the RAV4 electric vehicle is a component of Toyota's Project Green Light, which was announced on July 5, 2011. The Government of Canada is providing Toyota with a repayable contribution of up to $70.84 million for the overall project. Toyota's total investment in the project could reach up to $506 million. The Province of Ontario is also providing assistance of up to $70.84 million.

"The RAV4 EV will be the first highway-capable electric vehicle to be produced in Canada and the first electric vehicle to be produced by Toyota outside of Japan," said Minister of State Goodyear. "The fact that Ontario has been chosen to produce these vehicles is a testament to the expertise and skill of Canadian workers and to Canada as an investment destination."

Federal funding for the project was made through the Automotive Innovation Fund (AIF), which provides support for strategic, large-scale research and development projects in the automotive sector. The AIF was established to help automotive-related firms strengthen their capacity for innovation and to position them to compete successfully in the global economy, create jobs and support the development and implementation of innovative, fuel-efficient technologies.