A recent $220-million investment from provincial and federal governments will bolster a total $1.4-billion investment in the two plants, and will secure more than 8,000 existing jobs and add 450 more.
Canadian Prime Minister Justin Trudeau and Ontario Premier Kathleen Wynne were present while the announcement was made.
Ottawa will support the investment with C$110 million in Toyota's Cambridge and Woodstock plants in Ontario.
The factories produce TM's RAV4 sports utility vehicle, and the investment will turn the plants into the company's North American hub for RAV4 production; the RAV4 is TM's top seller in the US and Canada. "We welcome Toyota's decision to expand their presence in Canada and invest in our highly skilled workforce. This is a vote of confidence in our highly-skilled, talented workforce, and our entire province".
Securing Ontario's automotive future is part of the government's plan to support care, create opportunity and make life more affordable during this period of rapid economic change.
"Ontario has always been a great home for Toyota Motor Manufacturing Canada", said Fred Volf, president of Toyota Motor Manufacturing Canada. With 30 years of manufacturing experience, our success is a result of TMMC team members, who are known for their dedication, high levels of skill, and challenge mindset.
Toyota built 153 cars the first year it began manufacturing in Canada in 1988.
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Ontario is providing Toyota with a conditional grant of up to $110 million towards an overall investment valued at $1.4 billion.
More than 800,000 jobs have been created since the recessionary low, with nearly 18,000 manufacturing jobs created in 2017.
With a simple, story-based user interface, the new Innovation Canada platform can match businesses with the most fitting programs and services in about two minutes.
On average, the Canadian auto sector manufactures one vehicle every 13 seconds.
Toyota is the largest vehicle producer in Ontario and a cornerstone of the province's auto sector.
The plans for the assembly facilities include a hybrid version of the vehicle and spending on research and development.