Mercedes-Benz is "able and willing" to invest capital in mining - CEO

Automobilwoche car summit in Ludwigsburg
Ola Ola Kaellenius, CEO of Daimler AG, speaks at the Automobilwoche car summit in Ludwigsburg, Germany, November 10, 2021. REUTERS/Andreas Gebert

March 30 (Reuters) - Mercedes-Benz (MBGn.DE) 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.

Reporting by Victoria Waldersee, Editing by Friederike Heine

Our Standards: The Thomson Reuters Trust Principles.