Electric vehicle makers scramble for Canada’s raw materials
Lithium and nickel are the prime ingredients for an electric vehicle’s battery and Canada has the goods. Automakers Volkswagen and Mercedes-Benz both entered into agreements with the Canadian government last week to secure these precious metals for their manufacturing operations.
Canadian suppliers of these raw materials are looking at the agreement as an opportunity for major growth. Canada recently finalized the Critical Minerals Strategy, a plan to ramp up the amount of cobalt, copper, and other rare-earth minerals in the country.
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