Mr. Speaker, it is my pleasure to participate in this debate today.
As we all know, times are changing, and in that uncertain world, the government is focused on what we can control. As part of Canada's new industrial strategy, we are transforming our economy with a diversification of trade partnerships as we work to catalyze growth with massive new levels of investment.
For over 100 years, Canada's automotive industry has underpinned advanced manufacturing, driven innovation and supported hundreds of thousands of well-paying jobs across the country, including in Oakville. It is as important as ever that we take action to maintain and improve Canada's automotive sector. In fact, we have a unique opportunity to do so.
That is why, on February 5, I was proud to join the Prime Minister as he launched a new strategy to transform Canada's automotive industry. Recognizing that the future of the automotive industry is electrified and connected, the government is prioritizing the development of the full value chain for next-generation vehicles. Within five years, EV sales are projected to reach nearly 40% of global car sales. It is important that Canada is among those at the forefront of that evolution.
While repealing the electric vehicle availability standard will allow manufacturers to use new technologies as they respond to consumer preferences to grow domestic demand for EVs, they must become more affordable for working Canadians. That is why the government will launch a five-year, $2.3-billion EV affordability program that will offer purchase or lease incentives up to $5,000 for battery electric and fuel cell EVs, and up to $2,500 for plug-in hybrids with a final transaction value of up to $50,000 on cars made by countries that Canada has free trade agreements with. To support the Canadian automotive industry, this $50,000 cap will not apply to Canadian-made EVs and plug-in hybrids.
The government will also enhance, through the auto strategy, the national EV charging network, through investments of $1.5 billion, including investments in my riding of Oakville West. These will, through the charging and hydrogen refuelling infrastructure initiative, make it convenient for drivers to charge their cars no matter where they are.
To accelerate investments in Canada's automotive manufacturing sector, the government will also allocate $3 billion from the strategic response fund and up to $100 million from the regional tariff response initiative to help the auto industry adapt, grow and diversify. We will also take advantage of the productivity superdeduction and reduce corporate tax rates for zero-emission technology manufacturers to encourage investments in clean technologies and EVs as well as strengthen Canada's automotive remission framework to reward companies that build in Canada.
The government will also establish a comprehensive trade regime that strengthens the auto sector through new partnerships. For example, Canada recently deepened its strategic partnership with the Republic of Korea by signing a memorandum of understanding to strengthen Canadian-Korean industrial collaboration for future mobility. The recently announced new relationship with China aims to drive new Chinese joint venture investment in Canada and allow for a fixed volume of Chinese EV imports into the Canadian market. Although countertariffs on auto imports from the United States will be maintained, the government will continue to advance its auto strategy within an integrated North American automotive industry.
By making strategic investments and solidifying trade partnerships, Canada is positioning itself as a global leader in vehicle electrification, autonomous and self-driving technologies, and the battery supply chains that will power the future of mobility.
I would also like to mention the help we will provide to the auto workers who will build the vehicles amid short-term uncertainty. To protect Canadian auto workers and businesses from immediate pressures while helping bridge them to the future, the government will provide support to employees through a new work-sharing grant, preventing layoffs and supporting worker retention so that businesses can plan for the future. In addition, up to 66,000 workers across Canada, including affected auto workers, will receive employment assistance and re-skilling support as part of a $570-million investment.
These strategic decisions and generational investments aim to build a strong Canadian auto sector, where Canadian workers build the cars of the future. Backed by a world-class workforce, globally recognized parts suppliers and leading-edge research and development, Canada's automotive sector is building the vehicles for today, and it will help build the vehicles of tomorrow.