Goodyear invests in Canada as vote of confidence in EV goals

Tyre manufacturer Goodyear plans to invest CA$575m (US$419m) in the expansion and modernisation of its plant in Napanee, Ontario. In partnership with the Government of Canada and Government of Ontario—which will contribute CA$44m and CA$20m, respectively—the company is focusing on more energy-efficient manufacturing processes and achieving higher product output. The project will run through to 2027, creating an estimated 200 new high skilled jobs.

Mark Stewart, Chief Executive and President of Goodyear, called the investment proof of his company’s “long-term commitment to Canada” and its willingness “to meet the evolving needs of our customers now and in the future.” Those needs were clarified in its 12 August 2024 announcement: the company will focus particularly on the all-terrain and electric vehicle (EV) tyre markets. Goodyear’s latest EV tyre, ElectricDrive 2, became available in Canada in May 2024—its 100,000km warranty is 56-108% longer than comparable products, according to data from Kelley Blue Book.