German auto manufacturers Mercedes-Benz and Volkswagen have signed memorandums of understanding with the Canadian federal government to secure access to the country’s large reserves of raw materials. The agreements will open opportunities to capitalise on lithium, nickel, cobalt and other mineral deposits needed for electric vehicle battery production located predominantly in northern parts of Ontario and Quebec.
Volkswagen is targeting collaboration between the Canadian mining sector and its newly formed battery company PowerCo with a focus on…
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Image Credit: Mercedes-Benz