The Automotive Innovation Fund (AIF) provides repayable and non-repayable contributions to automotive companies in support of strategic, large-scale research and development projects in the automotive sector to build innovative, greener and more fuel-efficient vehicles. This will help Canada leverage its ability to maintain and grow its critical mass of automotive manufacturers, parts suppliers, and R&D and technology clusters in order to enhance a strong innovative and knowledge-based economy. The objectives of the AIF are to:
- Build automotive research and development (R&D) capacity in Canada and secure knowledge-based jobs through the growth of a strong automotive industry
- Enhance the government’s inclusive innovation, science and technology (S&T) and environmental agendas
- Support the development and/or implementation of innovative, fuel efficient technologies or processes
- Promote long-term economic benefit to Canada including significant job creation/retention
- Serve as catalyst for further private sector investments to foster Canadian competitiveness, including investments in production equipment or processes and next-generation manufacturing technologies
