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Ontario invests $56 million to power "homegrown" automotive and mobility companies amid trade war

Ontario is investing $56 million to support its automotive and mobility sectors amidst a trade war between the U.S. and China, aiming to bolster local companies and maintain the province's position as a leader in the industry. The funding, announced by Economic Development, Job Creation and Trade Minister Vic Fedeli, will be used to help companies innovate, expand, and attract investment, with a focus on electric and connected vehicles. This move comes as the trade war threatens to disrupt global supply chains and impact Ontario's automotive industry, which is a significant contributor to the province's economy. The investment is part of a broader strategy to support the sector's transition to new technologies and ensure its long-term competitiveness.

Read the Full BetaKit Article at:
[ https://betakit.com/ontario-invests-56-million-to-power-homegrown-automotive-and-mobility-companies-amid-trade-war/ ]