Eye on Lithium: Mercedes the latest carmaker to flag interest in mining investment to secure raw material supply
Car producers sticking their fingers into mining projects to secure supply is becoming increasingly common and Mercedes Benz is the latest major manufacturer to join this club.
At the carmaker’s annual environmental, social, and governance virtual conference in Germany last week, Mercedes Benz CEO Ola Kaellenius said the company is willing to allocate capital to support or ramp up a mining business if an opportunity presents itself.
The comments come after the German automaker opened a raw materials office in Canada last year and entered into battery materials cooperation agreements with the Canadian government to secure access to raw materials like lithium, nickel, and cobalt.
