Mercedes-Benz to Cooperate With Canada on Sourcing Raw Materials
24 August 2022 - 1:12AM
Dow Jones News
By Kim Richters
Germany's Mercedes-Benz Group AG said Tuesday that it has agreed
with Canada to explore ways to secure sustainable raw materials
sources.
The car maker said it has signed a memorandum of understanding
with the Canadian government to strengthen their cooperation across
the electric-vehicle value chain. This includes opportunities in
the up-, mid- and downstream mining and refining segments, it
said.
The auto maker also said it plans to sign an agreement with Rock
Tech Lithium Inc. for the supply of lithium hydroxide.
"Mercedes-Benz is looking to open new ways to responsibly
acquire raw materials to rapidly scale up electric vehicle
production," the car maker's Chief Technology Officer Markus
Schaefer said. "Securing direct access to new primary and
sustainable sources of raw materials is a vital step down this
road," he said.
Mercedes-Benz has said it plans to go all-electric by the end of
the decade, if market conditions allow.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
August 23, 2022 10:57 ET (14:57 GMT)
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