Holder stated in an interview a couple days ago after the HSR announcement that new service to London & SWO must meet 3 conditions:
1) Higher speeds
2) More reliable
3) More frequent
This will require a lot of twinning of track, overpasses, and more rolling stock. He did not state that it must be electrified so it's possible they could get some of the older trains but I don't think the people in SWO would care as long as it meets those 3 conditions and still has a comfortable and modern ride standard.
Ontario is a battleground province and especially in SWO and Trudeau and the Liberals know it. The Liberals cannot afford to lose any of those seats and get a majority and you will see if VIA {ie Ottawa} doesn't come up with a similar system for SWO, the Tories and NDP could use it quite effectively as a wedge issue in the election. This is particularly true because HFR will be going to QC and if SWO Ontario doesn't get HFR then it will be seen as another example of how Quebec gets spoiled by Ottawa at the expense of other Canadians particularly because South Central/West Ontario is far more populace than the section from Montreal to Quebec and the business case for HFR to SWO is far stronger than it is to QC.