Mercedes and Volkswagen sign MoUs with Canada for battery materials supply
By Bradley Osborne - 7th September 2022
Canada / Germany – Two German automotive corporations – Mercedes-Benz Group AG of Stuttgart, Baden-Württemberg and Volkswagen AG of Wolfsburg, Lower Saxony – have signed Memoranda of Understanding with the Government of Canada, agreeing to work with Canadian firms to source raw materials for the production of electric vehicle batteries.
As the electrification of automotives advances, demand is rapidly growing for key minerals such as cobalt, lithium, nickel, graphite, manganese and copper. Lithium in particular is an essential component of many different battery chemistries commonly found in electric vehicle battery packs. Mercedes-Benz and Volkswagen, which have both committed to ramping up production of electric vehicles before the end of the decade, are therefore keen to establish secure and sustainable supply chains for their EV manufacturing operations.
