The Government of Canada has announced a federal investment of up to $21.79 million in support of Magna International’s clean vehicle technologies development. Announced by Federal Minister of Industry, the Honorable Christian Paradis, the focus will be on developing energy-efficient components for vehicles, as well as innovative powertrain parts for next-generation vehicles.

The development work is targeted towards three technology areas: lightweight composite materials, the use of recyclable materials to replace traditional petroleum-based materials, and automotive components for use in electric and hybrid vehicles.

The funding is made possible through the Government of Canada’s Automotive Innovation Fund, and complements previous announcements and support from the Government of Ontario. The Minister highlighted that the government remains committed to these R&D investments, as they will provide jobs, growth and assist with the development of innovative technologies to produce greener, more fuel-efficient vehicles.