Recent investments in automotive R&D by the Government of Canada and the nation’s automotive sector have generated more than $1.1 billion in estimated economic and social benefits for Canada. This is one of the findings of a recent assessment of the AUTO 21 Network of Centres of Excellence.
AUTO21 contracted the services of the Center for Automotive Research (CAR), an internationally recognized automotive think-tank, to independently assess the impacts of its nine years of funding.
The CAR Economic Impact Study revealed that AUTO21 projects have provided a 12 to 1 return on investment for investors, as well as numerous benefits to Canadians at large through the development of safer, cleaner vehicles.
The full report is available for download at www.auto21.ca.
With an annual research budget of approximately $11 million in public and private-sector funding, the AUTO21 currently supports 39 auto-related research and development projects.
AUTO21 was established through the Networks of Centres of Excellence program in 2001 to help advance the country’s automotive R&D capabilities. Since then, AUTO21 has developed a national community of automotive research experts at more than 45 universities, and partnered with more than 300 private and public sector companies on over 90 research projects.