Mercedes-Benz and Volkswagen sign EV battery supply deal with Canada
Mercedes-Benz and Volkswagen aim to shorten supply chains for their U.S. operations and avoid difficulties linked to tariffs and tax regulations.
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Mercedes-Benz Group and Volkswagen Group on Tuesday signed deals with the Canadian government to secure access to Canada’s large stores of key battery materials such as lithium, cobalt, nickel and graphite, as the German companies compete for scarce supplies of raw materials with other automakers shifting to electric vehicles.
Markus Schaefer, chief technology officer at Mercedes-Benz, and outgoing Volkswagen CEO Herbert Diess each signed a memorandum of understanding with François-Philippe Champagne, federal Minister of innovation, science and industry, in Toronto Tuesday morning.
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