Volkswagen, Mercedes-Benz to Work With Canada on Sourcing Battery Materials -- Update
August 23 2022 - 11:59AM
Dow Jones News
By Kim Richters
German car makers Volkswagen AG and Mercedes-Benz Group AG have
agreed with Canada to explore ways to secure sustainable
raw-materials sources for their battery-supply chains as they ramp
up the production of electric vehicles.
The car makers said separately Tuesday that they have signed
memorandums of understanding with the Canadian government.
Volkswagen, which has bundled its global battery operations in
its PowerCo SE unit, said the supply of critical raw materials such
as lithium, nickel and cobalt would be a key focus of the
collaboration. It is currently reviewing potential sites for a
planned large-scale battery factory in North America, it said.
Peer Mercedes-Benz said the agreement with Canada would include
opportunities in the up-, mid- and downstream mining and refining
segments, and 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.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
August 23, 2022 11:44 ET (15:44 GMT)
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