Mercedes-Benz to Cooperate With Canada on Sourcing Raw Materials

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 [e-mail]

(END) Dow Jones Newswires

August 23, 2022 10:57 ET (14:57 GMT)

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