TUSCALOOSA, Ala. -- Mercedes-Benz won't cut spending on future electric vehicles even as it copes with supply-chain cost pressures exacerbated by the Russia-Ukraine conflict, the German automaker's CEO said Tuesday.
Ola Källenius, speaking during the company's opening of its first U.S. EV battery factory, also affirmed the company's 2022 financial outlook remained in place despite the conflict.
"We always protect the investment into future technology and future products," Källenius told Reuters. "That is the seed which we will harvest. Not even in COVID year of 2020 did we cut back on R&D for crucial projects."
Mercedes is working with suppliers in Ukraine whose operations have been disrupted, he added, but it was "too early to tell what the wider ramifications will be."