Ontario opens new O-AMP funding round for auto parts companies
The province is making available $10-million in additional funding for applications for the Ontario Automotive Modernization Program, which provides auto parts companies with funding to invest in new technologies and innovation.
Ontario’s provincial government is launching the next round of applications for the Ontario Automotive Modernization Program (O-AMP), which provides auto parts companies with funding to invest in new technologies and innovation.
The announcement of $10-million in additional O-AMP funding was made on Aug. 18 by Vic Fedeli, minister of economic development, job creation and trade.
“Ontario is uniquely positioned to lead the development of the next generation of vehicles when you consider that we have North America’s second-largest IT cluster and are the continent’s number two auto producer,” said Fedeli. “With more than 250 companies and organizations active in the development of connected and autonomous vehicle technologies, many of the world’s leading companies are developing the transportation solutions of the future right here in our province.”
O-AMP supports manufacturing technology adoption and/or adoption of lean manufacturing processes. Small- or medium-sized Ontario-based business in the automotive supply chain are eligible for O-AMP – funding covers up to 50 per cent of eligible project costs up to $100,000, with recipient companies contributing the remainder through their own resources.
Ontario was the first province in Canada to allow the testing of automated vehicles on its roads, and such companies as GM, Ford, BlackBerry QNX, Uber, and Renesas have invested over $1 billion in the development of connected and autonomous vehicle technologies in Ontario.