I like the announcement … first and foremost they are taking care of their existing workers with possibly the best exit package ever offered in this industry. Second, the investment in a stamping operation is really smart in that component jobs are higher value-added and more secure than assembly jobs and the 300 workers affected will have long term job security. The third is the adding of a test track for autonomous and electric vehicle testing. The future of the Canadian automotive sector is the ‘six inches between our ears’ and this investment fits perfectly into that category. And it also provides long term job security for the scientists in the research facility across the street from where the test track will be built.
Hope this helps.
See press release attached for details.