Mercedes-Benz is willing to allocate capital to support or ramp up a mining business, CEO Ola Kaellenius said on Thursday at the carmaker's annual environmental, social and governance conference.
"We have fundamentally made the decision that if a deep sourcing opportunity presents itself down to the mine, we are able and willing to allocate capital to that," Kaellenius said.
The company had opened up a raw materials office in Canada to further discussions in the region on sourcing raw materials following the signature of a battery material cooperation agreement with the Canadian government last year, chief technology officer Markus Schaefer added.