GM to make $833 million R&D investment in Canada
July 25 , 2012
General Motors has announced it is investing $833.62 million in research and development in Canada by the end of 2016.
The move comes as part of a deal it agreed on to receive bailout funds from Canadian governments in 2009.
The money will be spent on producing lightweight materials for vehicles along with software and communications.
The governments of Canada and the province of Ontario provided a $10.27 billion dollar bailout package to GM, in addition to a much larger U.S. bailout package, after the automaker filed for bankruptcy.