Toyota is crediting loans and grants from the Canadian and Ontario governments for its decision to build the electric version of the RAV4 sports utility vehicle in Woodstock, Ont.
Toyota Canada chair Ray Tanguay also says it only made sense to assemble the vehicle at the same place where the conventional gasoline RAV4 is built for all of North America.
Premier Dalton McGuinty says producing electric vehicles will help keep Ontario in the position of the number-one auto producer in North America.
Toyota hasn’t set the price yet for the RAV4 EV, and isn’t saying how many jobs will be created in Woodstock because of the new model.
The feds and the province recently gave Toyota $141.6 million in grants and loans to upgrade its southern Ontario plants in Woodstock and nearby Cambridge.