From the LAV III Wikipedia page:

Canadian Army LAV III convoy near Khadan, Afghanistan – 2010-01-25
Photo by Staff Sgt. Christine Jones via Wikimedia Commons

The LAV III, originally named the Kodiak by the Canadian Army, is the third generation of the Light Armoured Vehicle (LAV) family of Infantry fighting vehicle built by General Dynamics Land Systems first entering service in 1999. It was developed in Canada and is the primary mechanized infantry vehicle of the Canadian Army and the New Zealand Army. It also forms the basis of the Stryker vehicle used by the US Army and other operators.

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In July 2009, the Canadian Department of National Defence announced that $5 billion would be spent to enhance, replace and repair the army’s armoured vehicles. Part of the spending would be used to replace and repair damaged LAV III’s due to wear and tear from operations in Afghanistan. As much as 33 percent of the army’s light armoured vehicles were out of service. Furthermore, the LAV III’s will be upgraded with improved protection and automotive components. The Canadian Armed Forces has lost over 34 vehicles and 359 were damaged during the mission in Afghanistan. The Canadian army has lost 13 LAV’s and more than 159 were damaged by roadside bombs or enemy fire. Of the $5 billion announced, approximately 20% of it will be used to upgrade LAV III models. The upgrade will extend the LAV III life span to 2035. The remaining $4 billion is to be spent on a “new family of land combat vehicles”. The Department of National Defence considered the purchase of vehicles meant to accompany the Leopard 2 and to sustain the LAV III into combat. […]

On October 21, 2011 the Canadian government announced a $1.1 billion contract to General Dynamics Land Systems to upgrade 550 LAV III combat vehicles. The government said the upgrade is needed to improve protection against mines and improvised explosive devices (IEDs), which have been the cause of a number of Canadian deaths in Afghanistan. The improvements will also extend the service of the vehicles up to 2035 and will boost troop mobility. The upgrades include a new and more powerful engine, increased armour protection, steering and brake systems. The turret hatches on the LAV III would be made larger and improved fire control, thermal, day and low-light sights, and data displays. The weight of the vehicle would increase from 38,000 pounds (17,000 kg) to 55,000 pounds (25,000 kg). The first of 66 upgraded LAV IIIs was delivered on February 1, 2013. The success of the upgrade program and budget pressures led to the cancellation of the Close Combat Vehicle replacement program later that year.

In September 2012 the original contract valued to at $1.064 billion to upgrade the 550 LAV III’s variants, an infantry section carrier, a command post, an observation post and an engineer vehicle to the LAV 6.0 configuration, was modified. This included an additional $151 million to upgrade 66 LAV III’s to the LAV 6.0 reconnaissance variant or ‘recce’.

On February 10, 2017 General Dynamics Land Systems – Canada of London, Ont. was awarded a $404 million order to work on 141 LAV Operational Requirement Integration Task (LORIT) vehicles. This contract will upgrade the remaining LAV III fleet in the Canadian Army to the LAV 6.0 configuration. This brings the Canadian Army’s Light Armoured Vehicle III Upgrade (LAVUP) program to a total cost of $1.8 billion.

Final completion and delivery of the Canadian Army’s Light Armoured Vehicle III Upgrade (LAVUP) to upgrade the LAV III to the LAV 6.0 is expected to be completed by December 2019.

Canadian combat engineers in light armoured vehicules cross the river on a German floating bridge in Tancos, Portugal, during JOINTEX 15 as part of NATO’s exercise TRIDENT JUNCTURE 15 on November 2, 2015.
Photo by Sgt Sebastien Frechette via Wikimedia Commons

Ken Pole has more on the program at Canadian Army Today:

The LAV UP, also known as LAV 6.0, project is expected to push their operational life to 2035.

That effectively was set in motion in November 2008 when the Department of National Defence (DND) confirmed that it wanted to combine three programs into one general set of upgrades to all armoured vehicles. That led to a $1.064-billion contract award to GDLSC in October 2011 to modernize 550 LAV IIIs to enhance not only their survivability, but also their mobility and lethality.

Under the contract, 409 vehicles were to receive turret and chassis upgrades while 141 LAV Operational Requirement Integration Task (LORIT) variants were scheduled to receive only the turret upgrade. A contract amendment in February 2017 added $404 million to upgrade the LORIT chassis as well.

Now the focus within the Directorate of Land Requirements (DLR) is on the Light Armoured Vehicle Specialist Variant Enhancements (LAV SVE). Major Philippe Masse, the project director, brings operational chops from Afghanistan, although he’s quick to say that he’s had a lot to learn about the vehicles since he was assigned. He’s taken a clean-sheet approach, conducting extensive discussions with combat engineers, artillery officers, and gunners.

Masse’s career includes nine months as commander of a light infantry platoon tasked with force protection of the Kandahar Provincial Reconstruction Team and later as second-in-command of the Royal 22nd Regiment battlegroup’s parachute company for its final combat rotation on Operation Athena.

The LAV III infantry carrier and command post variants are the two largest elements of the fleet and are often tasked additional roles. However, the two specialist variants, the Engineer and the Observation Post Vehicle, used by Artillery’s forward detachments, will be “enhanced” under this project.

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There is extra pressure on the LAV SVE package because it was specifically identified in the Strong, Secure, Engaged policy document. “We’re on track; the options are getting a lot of priority,” Masse said. “We’re already engaged with General Dynamics Land Systems because they basically own the intellectual property of the fleet…. When you want to integrate new stuff, they’re among the first phone calls you have to make.”

While integration of a complex system is always a challenge, one of the team’s considerations will also be ease of maintenance, especially for soldiers in the field. “We’re looking to align that, if possible, with existing in-service support contracts that we already [have],” he said. “The bottom line for us is reliability.”