U.S. and European Carmakers Drive the Transition to Sustainable Steel, While Asian Automakers Lag Behind
For NGOs working on decarbonizing the automotive sector, there is a chicken-and-egg scenario in the industry’s steel supply chain. While steelmakers often point to a lack of demand from the auto industry, carmakers often point to the lack of low-carbon primary steel available on the market and its lack of availability in the near future. This stalemate between suppliers and auto OEMs has led to an impasse, with each side waiting for the other to make the first move. However, recent developments from automakers and new hydrogen-based steelmaking opportunities in the United States and in Europe seem to be finally shifting the conversation. And while auto companies in the U.S. and EU are beginning to embrace a sustainable steel future, carmakers in Asia are falling behind industry peers…
