Invest Ontario Fund (IOF) Awards $7.2 Million Towards Battery Manufacturing

The Government of Ontario has announced a major funding commitment to Siemens Canada, awarding $7.2 million through the Invest Ontario Fund (IOF) to establish a new Global AI Manufacturing Technologies Research and Development (R&D) Center for Battery Production at its headquarters in Oakville.  

Backed by the initial vast investment of $150 million from Siemens Canada, the new R&D centre will focus on the development of cutting-edge technologies such as machine vision, edge computing, digital twin capabilities, and cybersecurity for battery production. 

This initiative represents another critical step in Ontario’s broader strategy to strengthen its electric vehicle (EV) and battery manufacturing ecosystem, attract global investment, and support the transition to a clean economy. With up to 90 high-value jobs expected to be created, this collaboration underscores the importance of public-private partnerships in accelerating innovation and driving economic competitiveness. 

“Siemens Canada’s global R&D centre will equip Ontario battery manufacturers with the technology needed to stay ahead in a fast-evolving industry. This investment marks an important milestone for Ontario’s growing leadership in battery manufacturing, and it is a testament to the province’s leadership in the automotive sector.” 
– Khawar Nasim, CEO, Invest Ontario 

 

A Strategic Investment in Ontario’s EV Future 

Ontario’s $7.2 million contribution through the Invest Ontario Fund signals more than just financial support; it highlights the province’s commitment to future-proofing its innovation economy. Siemens’ Oakville R&D centre will serve as a global hub for battery production technologies, advancing industrial automation and smart manufacturing capabilities that align with both provincial and national goals for sustainable mobility and clean technology leadership. 

The new facility will be Siemens’ first of its kind globally, and Ontario’s investment reflects a broader push to attract multinational manufacturers, particularly those focused on critical technologies. In doing so, the province not only creates jobs but positions itself as a key player in the North American EV battery supply chain. 

“Thanks to our world-class workforce and competitive business environment, Ontario continues to be a global destination for investment and job creation, particularly in our EV and EV battery sector.” 
– Vic Fedeli, Minister of Economic Development, Job Creation and Trade.   

Government Funding Supporting Tech Adoption 

Ontario businesses pursuing advanced manufacturing, clean technology, or digital innovation can explore additional provincial and federal funding programs tailored to support technology adoption and business transformation, such as but not limited to: 

• Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream: Offers funding to support capital investments, productivity enhancements, and industrial expansion. Targeted at high-growth manufacturers looking to adopt leading-edge technologies. 

• Digital Modernization and Adoption Plan (DMAP): Provides up to $15,000 for Ontario-based SMEs to assess their digital maturity and implement a tailored adoption roadmap. 

• Canada Digital Adoption Program (CDAP): A federal initiative offering funding and advisory support to help small and medium-sized businesses integrate digital technologies and improve operational efficiency. 

These government funding programs play a complementary role to the Invest Ontario Fund (IOF), enabling both large-scale strategic investments and small-to-medium business modernization efforts across the province.  

Speak with a member of our team to find the latest intake period info for this program or subscribe to our newsletter to be notified. 

Momentum for Ontario’s Innovation Economy 

The Siemens Canada $150 million investment, supported by $7.2 million from the Invest Ontario Fund (IOF), represents a high-impact collaboration at the intersection of advanced manufacturing, clean technology, and economic development.  

By supporting this new R&D centre in Oakville, Ontario is building the infrastructure needed for long-term competitiveness in the global electric vehicle and battery markets. 

This initiative demonstrates how government funding plays an important role in accelerating innovation, attracting foreign direct investment, and generating high-quality jobs. For Canadian businesses looking to scale their operations or embrace new technologies, Ontario offers a robust suite of grant, loan, and tax credit programs to help bring those goals to life. Connect with our Ryan Canada team to learn more about funding.