Volvo Car Corp. announces plan to use
“near zero-emission” recycled-content steel from Sweden-based SSAB by 2026.
Volvo Cars
says it has “secured access to near-zero emission primary and recycled sheet
steel from SSAB” that it plans to use by 2026.
Photo courtesy of SSAB AB
BRIAN TAYLOR | DECEMBER 05, 2023
Göteborg, Sweden-based
Volvo Car Corp., while announcing it is now a member of the World Economic
Forum’s First Movers Coalition (FMC), also says it has reached an agreement to
use recycled-content steel from fellow Swedish company SSAB.
Regarding its FMC
membership, the company points first to the effects on its aluminum supply. “By
joining this coalition of some of the world’s largest companies, we’re putting
our purchasing power behind emerging clean technologies in the aluminum sector,
clearly signaling our demand for near-zero emission aluminum,” states Volvo.
“In doing so, we hope to play a role in reducing direct emissions from primary
aluminum production to deliver a net-zero aluminum sector by 2050.”
Looking to the future of
its steel supplies, the company more directly mentions recycling. “We’re also
taking action in the steel industry, through our collaboration with Swedish
steel producer SSAB. We were the first car maker to team up with SSAB to
explore near-zero emission, high-quality steel for the automotive industry.
Now, we have secured access to near-zero emission primary and recycled sheet steel
from SSAB that we plan to use in an upcoming car program by 2026.”
“We have previously used
the COP summits to push collective climate action and COP28 will be no
different,” says Jonas Otterheim, head of climate action, Volvo Cars. “What we
and other like-minded companies are trying to do is develop and scale up
transformational technologies to decarbonize sometimes ancient industrial
processes. By joining the FMC and showing tangible progress in our partnership
with SSAB, we hope to demonstrate that this vital shift is not just possible
but is already underway.”
Earlier this year, SSAB
President and CEO Martin Lindqvist indicated to investors his company expects
soon to be able to charge a premium for its Zero brand recycled-content steel,
especially in Europe.
Reaching supply
agreements with large-scale users like Volvo Cars could be a step in that
direction.
Comments Javier Varela,
chief operating officer and deputy CEO of Volvo Cars, “The world urgently needs
to come together and act, to avoid the worst effects of climate change. We’re
committed to doing our part and we call on corporate and political leaders
around the globe to also do theirs.”
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Volvo Cars says it is
“doubling down” on its climate action plan, which it calls “already one of the
most ambitious in the automotive industry.”
“As part of our ambition
to become climate neutral by 2040, we’re today announcing our aim to reduce CO₂
emissions per car by 75 percent by 2030, compared to a 2018 baseline,” states
the automaker.
“During the first nine
months of this year, overall CO₂ emissions per car were 19 percent lower
compared with our 2018 benchmark,” adds Volvo Cars.