Stock Groups

Mercedes-Benz CEO says raw material scarcity could delay e-mobility

[ad_1]

© Reuters. FILEPHOTO: Ola Kalenius, Chairman of Daimler AG, attends the Mercedes-Benz S-Class presentation at Daimler Production Plant in Sindelfingen (near Stuttgart), Germany, September 2, 2020. REUTERS/Ralph Orlowski

(Reuters) – The shortage of raw material for electric vehicles could hinder the transition from fossil-fuel-burning cars to them, Ola Kaellenius Mercedes-Benz chief executive stated in an interview on Wednesday with German newspaper Die Zeit.

According to Kaellenius, “The industrialization and expansion of the refinery capacity and mining facilities may slow down as much as increased demand.” Kaellenius stated that if this happens, it will only delay but not stop e-mobility.

While carmakers work to procure materials such as lithium, nickel, and manganese to build electric vehicles, they are also struggling to find the right raw materials to meet their needs.

Some have increased prices, like Mercedes-Benz which has changed its name to Daimler (OTC) Tuesday after it split from Daimler Truck.

Recent increases have been observed in reaction to the continuing semiconductor shortage that has lowered production volumes through last year.

 

 

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]