GM Canada commits $850 million to R&D

General Motors of Canada has committed to sending $850 million on R&D over an eight-year period between 2009 and 2016 as part of a commitment it made when it received $10.5 billion in support from the federal and provincial governments in 2009. The public funding was provided to allow GM to restructure following the 2009 economic downturn. The Oshawa ON-based subsidiary of General Motors Co, Detroit MA, has pledged to spend an average of $150 million annually from now until 2016 — the largest automotive R&D commitment in Canadian history. The record-breaking investment will see GM continue to boost R&D at its Canadian Engineering Centre in Oshawa as well as fostering R&D linkages with academia and drive innovation through the supply chain with suppliers and manufacturers "aligned with Canadian R&D clusters and GM's priorities". GM will pursue R&D in the areas of light-weight materials, mechatronics, software and communications. The company will also use its venture capital arm (GM Ventures) to assist promising start-ups....