December 10, 2021
The Ontario government has recently announced a new flagship program designed to attract investment and innovation into the electric vehicle industry. The Ontario Vehicle Innovation Network (OVIN) will receive $56.4 million in funding from the government over the next four years in order help secure Ontario as one of the foremost innovation hubs for electric vehicles. Over the course of the next few years, OVIN will work to promote growth in the newest frontier of automotive technology by assisting various small and medium enterprises with the commercialization of new technologies, scaling up of existing technologies, and attracting new investment through domestic and international financing sources. Additionally, OVIN will also support the development of new research and development facilities that will accelerate the deployment, piloting, and adoption of new technologies.
OVIN serves as one part of the Ontario government’s broader plan for the future of transportation in the province. The broader plan known as “Driving Prosperity? The Future of Ontario’s Automotive Sector” is Ontario’s response to an increasingly climate conscious world that is quickly looking for alternatives to traditional combustion driven automobiles. The ambitious plan seeks to build at least 400,000 electric vehicles by 2030. Alongside OVIN, the province had also previously announced a similar program for autonomous vehicle innovation. The so called Autonomous Vehicle Innovation Network (AVIN) received $85 million in funding and serves as a sister program to OVIN. Together, the two programs seek to push Ontario towards its goal of becoming a province of sustainable automotive practices.
By: Aryan Pour-Bahreini