Mercedes-Benz is “able and willing” to invest capital in mining – CEO

Mercedes-Benz is willing to allocate capital to support or ramp up a mining business, chief executive 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.

(By Victoria Waldersee; Editing by Friederike Heine)