The Goodyear Tire and Rubber Co. will modernize and expand its manufacturing plant in Ontario through a $575 million project to create an energy-efficient, end-to-end manufacturing process and increase its production capacity, including of EV and all-terrain tires.
This project will also get Goodyear's plant to net-zero emissions by 2040, helping achieve Canada's goal of a net-zero economy by 2050, the company said August 12. The facility is located in Napanee, Ontario, which is on the northern shore of Lake Ontario, halfway between Toronto and Ottawa.
Goodyear Canada was backed in the project by $44.3 million in federal funding and $20 million from the province of Ontario to support the implementation of innovative technologies and skills training programs.
"Goodyear Canada's investment is another significant boost to Ontario's growing electric vehicle sector, building on the billions of dollars that have been invested in the sector over the past four years,” Doug Ford, Premier of Ontario, said in a release. “Across Ontario, we're seeing major investments and new jobs created as we build out our end-to-end EV supply chain, connecting critical minerals in Northern Ontario to world-class manufacturing across the province. Companies are choosing Ontario because of our transportation infrastructure, our competitive business environment, and our skilled workforce."
Canada's automotive sector builds more than 1.5 million vehicles each year, supporting nearly 550,000 direct and indirect jobs, contributed $18 billion to Canada's gross domestic product in 2023, and is one of the country's largest export industries.
Founded in 1898, Goodyear is one of the world's largest tire companies. It employs about 71,000 people and manufactures its products in 54 facilities across 21 countries around the world.
