Carmakers are working to secure supplies of materials from lithium, nickel and manganese for batteries to magnesium for car components as they race to ramp up electric vehicle production, but rising raw material costs have dug into their margins.
Some, including Mercedes-Benz – which changed its name from Daimler on Tuesday after splitting from Daimler Truck – have lifted prices for consumers to cushion the blow.
Increases have recently been seen in response to the ongoing semiconductor shortage, which lowered production volumes throughout last year.
(By Victoria Waldersee; Editing by Jan Harvey and Miranda Murray)