The government of Canada has signed memoranda of understanding with German automakers Volkswagen and Mercedes Benz to partner across a range of sectors and ensure a cleaner production of vehicles and batteries, Development Canada said on Tuesday
WASHINGTON (Pakistan Point News / Sputnik - 23rd August, 2022) The government of Canada has signed memoranda of understanding with German automakers Volkswagen and Mercedes Benz to partner across a range of sectors and ensure a cleaner production of vehicles and batteries, Development Canada said on Tuesday.
"Today, the Honorable Francois-Philippe Champagne, Minister of Innovation, Science and Industry, announced historic partnerships with two leading German automakers in the form of memoranda of understanding with Volkswagen AG and Mercedes-Benz AG. These agreements will further collaboration with two innovative global players across a range of sectors," Development Canada sad in a statement.
The partnership is mainly focused on the production of batteries and the extraction and supply of critical minerals required for them, the statement said, adding that the Volkswagen's newly formed PowerCo battery company is expected to open an office in Canada soon, the statement said.
Canada hopes to position itself as a major player in the manufacturing of electric vehicles and batteries as well as to attract significant investments in this area, the statement added.
Mercedes Benz will mainly enhance cooperation with Ottawa on the production of electric vehicles and sustainable development of critical mineral supplies, according to the statement.
Canadian Prime Minister Justin Trudeau and German Chancellor Olaf Scholz also attended the ceremony of signing of the memoranda of understanding.
