Auto Parts A Growing Global Market
(TORONTO, ON) – Ontario’s auto parts industry is growing. Companies across the province now employ more than 55,000 people – a 10 per cent increase since the 2009 recessionary low – and are well positioned to capture a growing share of the $1.1 trillion global automotive parts market.
Ontario is home to some of the most innovative auto parts companies in the world. With their support, Ontario has become a leader in the auto sector, producing more vehicles than any other state or province in North America since 2004.
Some examples of Ontario auto parts innovation:
- Ontario’s Centre for Research and Innovation in the Bio-Economy is partnering with Magna Exteriors and Interiors of Concord to develop technology to use wood fibres in auto parts. The parts will be more sustainable, lighter and cost less to make.
- Support through Ontario’s Eastern Ontario Development Fund, is helping Autosystems build a global research and development centre for advanced vehicle lighting in Belleville and upgrade its Belleville plants to manufacture the new systems.
- Dana Holding Corporation has its global research and development centre for battery cooling systems in Oakville and its global manufacturing centre for these systems in Cambridge.
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