A St. Thomas automotive parts manufacturer will be able to expand into the electric vehicle (EV) market thanks to a $2 million loan from the federal government.
Minister of Federal Economic Development for southern Ontario Filomena Tassi announced the interest-free funds for Amino North America Corporation on Thursday.
"Ontario's manufacturing industry is the engine that drives our national economy forward," said Tassi. "Today’s investment in Amino North America Corp. will strengthen our regional automotive supply chains, while creating important jobs for the community and building made-in-Canada automotive parts.”
Amino will put the money toward a $25 million, 42,000 square foot expansion of its facility at 15 Highbury Avenue South. It will add a new state-of-the-art automotive parts manufacturing line that will allow it to break into the growing EV sector. The company hopes to diversify its product offering to include EV battery compartments.
The expansion will add and maintain 45 new jobs at the plant. Currently, Amino employs 60 people and manufactures automotive body, steel and aluminum parts for the heavy truck, aerospace, bus, agriculture and construction industries. It has been in business since 2002.
The decision to help Amino tap into the EV market is also a timely one. Last year, it was announced Volkswagen would build its first overseas battery manufacturing plant in St. Thomas. The $7 billion facility is to open its doors in 2027 and employ more than 2,000 people.
"If we provide supports in terms of supply chains that are right next door it makes it easier for [Volkswagen] as well," said Tassi. "So there is no question that the EV space is one that we are focused on. We want to ensure that we are making investments in businesses to help create that end-to-end supply chain.
London North Centre MP Peter Fragiskatos and London West MP Arielle Kayabaga appeared alongside Tassi for Thursday's announcement.
Both applauded the quality jobs that will be created as a result of the government investment, as well as the increased production of made-in-Canada auto parts.
Following the visit to Amino, Tassi met with St. Thomas businesses, organizations and community leaders in the local automotive sector for a roundtable on the contributions being made to grow the EV market and its supply chain.