Toyota receives $ 34M for its Lexus plant in Cambridge
The Canadian subsidiary of Japanese automaker Toyota will receive nearly $ 34 million in seed money from the governments of Canada and Ontario to build a new assembly line in Cambridge.
Ottawa will contribute $ 16.9 million from the Innovation Fund for the automotive sector. Ontario will provide an equivalent amount.
Toyota will spend $ 125 million to add an assembly line to increase production of Lexus luxury cars, including a new model with a hybrid engine.
It will be the first Lexus hybrid car was produced outside Japan.
This initiative should lead to the creation of 400 jobs in Cambridge.
The Prime Minister of Canada, Stephen Harper, the Prime Minister out of Ontario, Dalton McGuinty, were among the politicians who were displaced for this Ad.