Canada Signs Pacts with Mercedes-Benz, Volkswagen

A special announcement was made in Toronto yesterday, involving Prime Minister Justin Trudeau, German Chancellor Olaf Scholz and members of the German-Canadian Chamber of Commerce and Industry.

They were there to announce the signing of separate agreements with the Volkswagen Group and Mercedes-Benz. The deals will give the two German automakers easier access to Canadian raw materials for the batteries that will be used in their current and future electric vehicles.

In a statement, Ottawa said the agreements will “help secure Canada’s position as a leading centre of excellence for the manufacturing of electric vehicles and batteries.”

The agreements cover Canadian cobalt, graphite, nickel and lithium.

Markus Schaefer, CTO of Mercedes-Benz Group, and Herbert Diess, CEO of Volkswagen Group, each signed a Memorandum of Understanding (MoU) with Canada's Minister of Innovation, Science and Industry, François-Philippe Champagne.

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