Ottawa has confirmed a deal has been signed with automobile giants Mercedes-Benz and Volkswagen toward the supply of batteries and electric vehicles. The memoradum of understanding was signed today with the CEOs of those companies in Toronto. Later today they, along with other major business leaders, as well as German Chancellor Olaf Scholz, will gather in Stephenville for a larger announcement on the future supply of green hydrogen as an alternative to Russian oil and gas. The deal with Volkswagen focuses on deeper co-operation on sustainable battery manufacturing, mineral supply, as well as setting up a Canadian office for PowerCo, Volkswagen’s newly formed battery company. The Mercedes-Benz agreement focuses on enhancing collaboration with Canadian companies along the electric vehicle and battery supply chains. It follows a supply deal recently signed between Vale and Tesla, using nickel mined at Voisey’s Bay to manufacture batteries for its electric cars.
