Goodyear To Invest C$575 Million To Upgrade Canada Tire Plant

The Canadian unit of Goodyear Tire & Rubber Co. is set to invest more than C$575 million ($418.4 million) to upgrade its plant in Napanee, Ontario, Prime Minister Justin Trudeau announced, as reported by Ismail Shakil and Promit Mukherjee for Reuters.

The federal government will provide C$44.3 million in funding for the Goodyear expansion. I Photo: CapturedGlimpsesPhoto Wikimedia Commons

This project, aimed at modernizing and expanding the plant, will create 200 new jobs by 2027 and secure 1,000 existing jobs in Napanee, according to the prime minister's office.

The federal government will provide C$44.3 million in funding for the expansion, while the Ontario provincial government will contribute C$20 million to support key components of the project.

This investment is part of Canada's broader strategy to attract companies involved in all levels of the electric vehicle (EV) supply chain, thereby securing the future of its manufacturing heartland in Ontario as the world moves towards reducing carbon emissions.

"It's another vote of confidence in Canada's auto sector workers," Trudeau said.

Goodyear's project is expected to increase its production capacity, particularly for EV and all-terrain tires, and to achieve net-zero emissions at the Napanee plant by 2040.