NGen announces new $35M fund for EV projects
by CM Staff
New products, technologies, and supply chain relationships will need to be built for Canada to realize the full potential of these investments.
NGen announces new $35M fund for EV projects
HAMILTON — Next Generation Manufacturing Canada (NGen), has launched a new call for project proposals targeting the entire value chain of road-based battery and fuel-cell electric vehicles and their respective systems and components. NGen’s new strategic challenge is aimed at addressing the critical innovation challenges of the EV industry and will build on the success of the previous initiative.
Recent investments in the EV sector are providing new innovation and business opportunities for Canada’s automotive parts suppliers, technology companies, and other manufacturers. However, new products, technologies, and supply chain relationships will need to be built for Canada to realize the full potential of these investments. NGen’s new funding program will target the capabilities that Canadian companies will require in order to develop a world-leading EV supply base and ecosystem in Canada.
NGen says this is a critical and time-sensitive opportunity to scale-up and commercialize high-potential Canadian innovation and manufacturing capabilities – along the entire EV value chain, from the processing of minerals to the assembly of battery packs and vehicles – so that they are market ready for integration into the growing EV market.
“The Government of Canada has attracted historic investments from global automakers. Canada is a leader in the EV sector, and we continue our efforts to strengthen Canada’s position as green supplier of choice to the world. Thanks to initiatives led by NGen, we’re building on that momentum by enabling critical industry-led investments to build EV value chains that will be the foundation for the future of automotive manufacturing in Canada,” said François-Philippe Champagne, Minister of Innovation, Science and Industry.
“We are helping to build a whole new industry here from critical minerals, sustainable processing, batteries, fuel cells, electronics, powertrain, advanced materials, and final assembly. It will take collaboration and an ecosystem built on the best in research, advanced technologies, and manufacturing that Canada has to offer. That’s the strategic role that NGen will play. And, the time for investment couldn’t be better,” said Jayson Myers, CEO, NGen.
