Volkswagen And Mercedes Secure Access To Raw Battery Materials From Canada | Carscoops carscoops
to secure access to important raw materials for battery production, including nickel, cobalt, and lithium.
Memorandums of understanding are being signed this week with Canada Prime Minister Justin Trudeau and German Chancellor Olaf Scholz. The agreement that VW has secured is aimed to shorten supply chains for its facilities in the U.S. and to help it avoid difficulties related to tariffs and tax regulations. An individual with knowledge of the agreement said it has been partly prompted by the U.S. Inflation Reduction Act being signed into law by President Joe Biden last week.
notes that VW’s battery business, PowerCo, is also working to ramp up its battery activities to ensure “reliable and sustainable supply chains.”“I’m very happy that among the many, many declarations which are being signed during our visit, there are also those planned by Volkswagen and Mercedes, for example, in which a closer cooperation in this area will be sealed,” German Chancellor Olaf Scholz said of the agreements.
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