© Reuters. FILE PHOTO: Daimler AG sign is pictured at the IAA truck show in Hanover, Germany, September 22, 2016. REUTERS/Fabian Bimmer/File Photo/File Photo
(Reuters) – The chief executive of Daimler (OTC:) Truck said electric truck costs would “forever be higher” than those using combustion engines, the Financial Times reported on Sunday, as Russia’s invasion of Ukraine added to rising raw material costs.
Martin Daum told the newspaper that governments needed to help make up the difference in the cost of the extra materials used in battery-powered vehicles. “Without any subsidies . . . the price of an (electric) truck will always, forever be higher than a (combustion engine] truck,” he said.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.