Canada’s automotive industry is centered in the heart of North America’s largest vehicle producing region: the Great Lakes automotive manufacturing cluster. Canada is one of the world’s top 10 producers of light vehicles, with a $19 billion contribution to GDP. The industry directly employs more than 125,000 people, with an additional 400,000 people in aftermarket services and dealership networks. [1]
As being one of the largest producers of light vehicles, Canadian automotive companies are finding new and innovative ways to get a competitive advantage. Investments in research and development continue to increase each and every year but many companies often overlook potential refunds from the Canadian Government.
Below are some eligible R&D activities in the automotive industry.
Examples of eligible R&D activities:
- Developing new passenger vehicles, trucks and military vehicles;
- Developing new design concepts for component and systems across the vehicle chassis, body, and powertrain;
- Developing new or improved production processes and associated equipment;
- Developing new coatings and improvements to coating processes to reduce corrosion;
- Extending knowledge of battery technology to meet environmental concerns;
- Developing new engines to meet legislative changes;
- VA/VE: reducing component and production costs through design and process changes;
- Developing a software solution to support intelligent mobility;
- Extending the capability of material science through an integration of composite materials.
Braithwaite Technology Consultants Inc. can assist you in obtaining tax credits for research and development activities. Whether your work involves basic research, applied research, or experimental development, Braithwaite can take the uncertainty out of the filing process and get you the credit you deserve for your innovation.
For a detailed evaluation of the Automotive industry, please contact the professionals at Braithwaite.
[1] Source: Canadian Automotive Industry