FRANKFURT -German carmakers Volkswagen and Mercedes-Benz on Tuesday intensified efforts to secure access to key battery materials lithium, nickel and cobalt by striking cooperation agreements with top supplier Canada.
No financial details were disclosed for the memorandum of understanding agreements, which were signed in Canada during a visit by German Chancellor Olaf Scholz and a delegation of German corporate representatives. Volkswagen aims to build, with partners, six large battery cell factories in Europe by 2030 with a capacity of around 240 gigawatt hours, as well as a dedicated factory in North America for which it is currently examining potential sites.
As part of the MoU, Mercedes-Benz will explore a strategic partnership with Rock Tech Lithium under which the Canadian firm would supply the German carmaker and its battery partners with up to 10,000 tonnes of lithium hydroxide a year from 2026.