Earlier this year, a group of Chinese automakers and steelmakers gathered in Shanghai to chart a new path for their industries. They pledged to work together to cut the carbon emissions generated by steel production.
Their goal is to speed up automakers’ large-scale use of what they call “low-carbon” steel, and ultimately drive the green transition for China’s manufacturing industries, according t...
The joint declaration is an attempt to address the "chicken and egg" problem of green materials by promoting collaboration along the steel supply chain. By working together, both industries hope to align standards, establish the economic benefits of low-carbon steel, and make it more affordable for automakers to adopt. However, challenges remain due to a lack of clear standards for low-carbon steel, immature supply chains for green steel in China, and uncertainty about how the additional cost wi...