- Guelph-based Linamar said late January it would be investing more than $1 billion in its southern Ontario facilities
- The money will in part help create over 2,000 new jobs, the company promises
- The investment will largely expand its production of electrified-vehicle technologies, but not just EVs
Canadian car-parts supplier Linamar (not to be confused with linament, which soothes burns) has announced it recently reached agreements with governments on both the federal and provincial levels on an investment program that will see the company heavily invest in technologies and manufacturing capabilities in preparation for a broad range of electrified-vehicle technologies — but not just EVs.
“Linamar is focused on developing products for every type of vehicle propulsion and for systems that are propulsion-agnostic,” said Linda Hasenfratz, Executive Chair at Linamar Corporation. For those of you who don’t speak marketing word-salad, that basically means the company intends to plow money into tech which can be used in EVs, plug-in hybrids, and even gassers.
What kinds of tech? At an announcement this week in Guelph, Ontario, the company said this new program will focus on a broad portfolio including hybrid propulsion systems and battery-electric solutions such as eAxle propulsion technologies. This means the outfit shouldn’t be solely reliant on the uptake of electric vehicles, a segment in flux thanks to a myriad of world events.
The so-called ‘propulsion-agnostic products’ are likely related to Linamar’s $64-million acquisition of an American company called Mobex about one year ago. That outfit was a Tier 1 supplier of automotive components such as steering knuckles, control arms, and subframes. In particular, lightweight structural casting solutions were given a shout-out in this week’s announcement. R&D is also part of this investment.
Investments like these are always worth talking about – and not just for the promised 2,300 new jobs in Ontario – but are especially so considering the flap about tariffs from south of the border.
Linamar claims to be Canada’s second-largest automobile parts manufacturer after Magna International, with over 33,000 employees in 75 manufacturing locations around the globe. Its sales are said to have nearly topped $10 billion in 2023.