Goodyear Canada Inc. invests more than $575 million in Ontario to scale EV and all-terrain tire production

Invest Ontario supports Goodyear’s Napanee plant expansion, further bolstering province’s EV supply chain

NAPANEE, Ontario, August 12, 2024 – Invest Ontario is supporting Goodyear Canada Inc. in a substantial expansion of the company’s facility in Napanee, Ontario to produce Original Equipment (OE) and replacement EV and all-terrain tires. This investment of more than $575 million will further expand the province’s manufacturing capacity of key EV components and cement Eastern Ontario’s role as a significant player in the EV supply chain.

The expansion is central to the company’s objective to modernize the facility, enabling scaled production of tires designed for EVs, as well as increasing the plant’s capacity to make all-terrain tires.

Today’s announcement reinforces our long-term commitment to Canada and enhances our agility and flexibility, positioning Goodyear to meet the evolving needs of our customers now and in the future. We are appreciative to the federal, provincial and local governments for their support and to our Napanee associates for their dedication to building the next generation of tires.

Mark Stewart

Goodyear Chief Executive Officer and President

Ontario, Canada is one of the largest auto manufacturing hubs in North America and has emerged as a leader in the global transition to EVs. Boasting an end-to-end auto supply chain, a skilled workforce, a wealth of critical minerals, and a thriving tech ecosystem, Ontario has everything auto companies need to build the cars of the future.

Goodyear Canada’s investment is another significant boost to Ontario’s growing electric vehicle sector, building on the billions of dollars that have been invested in the sector over the past four years. Across Ontario, we’re seeing major investments and new jobs created as we build out our end-to-end EV supply chain, connecting critical minerals in Northern Ontario to world-class manufacturing across the province. Companies are choosing Ontario because of our transportation infrastructure, our competitive business environment and our skilled workforce.

Hon. Doug Ford

Premier of Ontario

Companies from across the world are choosing Canada. Today’s announcement that Goodyear is modernizing its Napanee plant will create manufacturing jobs, grow our EV industry and use modern technology to keep our air clean. It’s another vote of confidence in Canada’s auto sector workers.

Rt. Hon. Justin Trudeau

Prime Minister of Canada

Over the last four years, Ontario has attracted billions of dollars in auto and EV‐related investments from global companies with the help of Invest Ontario. Working together with automakers, parts suppliers, and EV battery and material manufacturers, Ontario is more competitive in the global EV manufacturing space than ever before.

Today’s announcement is another great step toward the modernization of Canada’s automotive sector. By partnering with Goodyear Canada, we’re driving Canada to the forefront of the clean economy. This investment represents a significant advancement toward innovation in tire technology, helping to modernize the industry. It will not only create high-quality jobs, but also generate substantial economic benefits for Ontarians, reinforcing our commitment to a strong and sustainable automotive sector.

Hon. François-Philippe Champagne

Minister of Innovation, Science and Industry

Boasting a wealth of critical minerals, a highly skilled workforce, and a thriving advanced manufacturing sector, Ontario has emerged as a North American leader in the production of electric vehicles with over billions of dollars in new auto investments over the past four years. Goodyear’s investment in their Napanee production facility represents another essential link in our province’s growing and dynamic end-to-end EV supply chain. Thank you, Goodyear, for your continued commitment to Ontario’s talented auto sector workers.

Hon. Vic Fedeli

Ontario Minister of Economic Development, Job Creation and Trade

Goodyear’s Napanee plant has been operating since 1988 and is one of the largest employers locally, currently employing more than 800 workers. Set to create 200 new jobs, this expansion will further boost regional economic development, while helping attract talent and retain the skilled workforce in Napanee and neighbouring communities.

Goodyear’s expansion is a significant achievement for both the province and the region. Invest Ontario collaborated closely with partners across all levels of government to support the company’s decision to continue investing in Ontario, a world-class jurisdiction to do business. As a dedicated partner to investors, Invest Ontario is committed to accelerating their success by providing expertise and services specifically tailored to their needs.

Michael Fedchyshyn

Interim CEO and VP, Strategies and Business Solutions of Invest Ontario

Goodyear Canada Inc. will receive federal funding of up to $44.3 million from the Strategic Innovation Fund for this expansion project. Subject to reaching a definitive agreement, the Invest Ontario Fund will support the investment with up to $20 million.

In addition to funding, market intelligence, and workforce development support, Invest Ontario facilitated access to local government services and incentives in partnership with municipalities including Lennox and Addington County, Stone Mills, and Napanee.

Goodyear has been an important part of our community since 1988. As our major employer, Goodyear has contributed greatly to our regional economy and has been a wonderful corporate partner.

Mayor Terry Richardson

Town of Greater Napanee

This is an exciting time for Goodyear and our municipalities; the expansion will result in a substantial increase in employment and ensures that Goodyear Napanee will continue to be a world-class tire production facility for years to come. We are proud to be home to Goodyear.

Reeve John Wise

Stone Mills Township

For more information about Invest Ontario, please visit www.investontario.ca.