TORONTO Jan 4 Canada plans to invest C$250
million in the country's auto industry, a senior government
source told Reuters.
Prime Minister Stephen Harper will announce the renewal of
its Automotive Innovation Fund at an event at the Ford Motor Co.
assembly plant in Oakville, Ontario later on Friday, the
The investment will be spread out over five years.
The announcement comes as the country's auto sector is
reeling from General Motors Co's announcement in December
that it will produce the next generation its Chevrolet Camaro
in Lansing, Michigan, instead of at GM's Canadian production hub
in Oshawa, Ontario, where it currently produces the sports car.
The Canadian government first established the fund in 2008.