A key player in the region’s automotive manufacturing sector has announced a $60M investment to grow its EV manufacturing capacity in Waterloo Region.
Dana manufactures advanced thermal management systems that are critical for cooling sensitive electronics and batteries in modern electric vehicles (EVs). This strategic investment will boost production capacity at its Cambridge facility, help Dana secure new product mandates and meet the increasingly more complex needs of its customers moving forward. It will also create 105 jobs in the local automotive sector by 2025.
Invest Ontario is backing Dana’s investment with a $2.5M grant, demonstrating the government’s commitment to fostering high-impact investments that enhance Ontario’s economic resilience and its role as a leader in auto manufacturing.
The Honourable Victor Fedeli, Minister of Economic Development, Job Creation and Trade; Trevor Dauphinee, CEO, Invest Ontario; and Steven Monte, Vice President of Power Technologies, Dana Incorporated were in Cambridge to announce the investment.
The announcement was attended by the Honourable Victor Fedeli, Minister of Economic Development, Job Creation and Trade; Trevor Dauphinee, CEO, Invest Ontario; Steven Monte, Vice President of Power Technologies, Dana Incorporated; and a group of special guests, staff and press.
Fedeli spoke about how Canada has become a leader in EV manufacturing, rising over the last few years to become the #1 EV battery supplier in North America and #2 in the world, behind only China.
Dauphinee and Monte followed Fedeli with congratulatory remarks, all the while flanked by a Ford Lightning and a 2024 Cadillac Lyriq, two top-of-the-line electric vehicles that will be equipped with Dana’s advanced thermal management systems.
The event concluded with a tour of the Cambridge facility, which gave guests a chance to witness the state-of-the-art automation technology and processes that bring Dana’s products to life. Fedeli was even invited by plant manager Nik Vucenic to start one of the presses.
Dana Canada staff and special guests celebrate $60M investment announcement in Cambridge.
Boosting Ontario’s automotive supply chain
Dana’s investment reflects the ongoing momentum in Ontario’s manufacturing sector, showcasing the successful evolution of the province’s auto industry to meet the rising demand for electric vehicle production in the North American market.
The new product line strengthens the province’s supply chain, as 70 percent of Dana’s suppliers are Ontario-based. It also enhances Canada’s export market, as the battery coolers will be built into vehicles that will be assembled in the US and sold in the US and Latin America.
Waterloo EDC has championed Dana’s continued growth in the region, partnering with Invest Ontario and the City of Cambridge to ensure that EV innovation continues to happen right here.
“Electric vehicles are re-making the automotive industry and its innovative companies like Dana that have made Waterloo Region a leader in Ontario’s growing EV supply chain. Congratulations to the whole Dana team on its impressive mandate. It was an honour for our team to work with you on this expansion alongside our partners at Invest Ontario and the City of Cambridge,” said Tony LaMantia, President & CEO of Waterloo EDC.
" Electric vehicles are re-making the automotive industry and its innovative companies like Dana that have made Waterloo Region a leader in Ontario’s growing EV supply chain. "
Tony LaMantia
President & CEO of Waterloo EDC
About Dana
Dana Canada Corporation is a subsidiary of Dana Incorporated, a leader in the design and manufacture of highly efficient propulsion and energy-management solutions that power vehicles and machines in all mobility markets across the globe.
The company is shaping sustainable progress through its conventional and clean-energy solutions that support nearly every vehicle manufacturer with drive and motion systems; electrodynamic technologies, including software and controls; and thermal, sealing, and digital solutions.
Based in Maumee, Ohio, USA, the company reported sales of $10.2 billion in 2022 with 42,000 people in 31 countries across six continents. Founded in 1904, Dana was named among the “World’s Most Ethical Companies” for 2023 by Ethisphere.
The company is driven by a high-performance culture that focuses on valuing others, inspiring innovation, growing responsibly, and winning together, earning it global recognition as a top employer. Learn more at dana.com.
Read the press release for all the details.
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