The governments of Ontario and Canada are set to announce details of their plan to each spend $250 million to help Ford upgrade its assembly plant in Oakville to start making electric vehicles.
Prime Minister Justin Trudeau and Ontario Premier Doug Ford will both attend a press conference in the Ottawa suburb of Kanata on Thursday to announce details of the plan.
The fact that the governments are chipping in cash is not new — it was a key part of last month’s $1.8 billion deal between Ford and its biggest union, Unifor, to start making five new electric car models at the plant.
But Thursday’s news confirms previous reports of exactly how much the governments are willing to chip in: $250 million apiece.
The event kicks off at 11:30 a.m. eastern time. This story will be updated with details as they emerge.
More to come