HONG KONG—Ontario Premier Kathleen Wynne says Johnson Electric will invest more than $350 million in new equipment and capacity in Ontario, which she says is expected to create 326 new jobs.

Wynne, who is on a trade mission to China and Vietnam, made the announcement from Hong Kong, where Johnson Electric is based.

She says the company, which makes electric motors and mechanical parts for automotive manufacturing, will invest the money in the Greater Toronto and Hamilton Area.

It will support the development of electric auto manufacturing through the purchase of new equipment, and will establish a Global Centre of Excellence for E-Pump Development.

Wynne says Ontario has committed up to $24.1 million to the initiative through the Jobs and Prosperity Fund, which provides government funding to businesses.

The new agreement is in addition to nearly $2 billion in agreements between Ontario and Chinese companies that Wynne previously said the trip secured.

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