Chinese steel giant BaoSteel and automaker Beijing Benz Automotive have inked a memorandum of cooperation on green steel supply chain jointly promote the application of cleaner raw materials in the manufacturing process of complete vehicles and build a green automotive steel supply chain. Under the MoU, Beijing Benz Automotive will start using low-carbon steels from 2023 and aims to gradually decrease the carbon emissions from automotive steel by 50%-80% from 2026 through the technical route of hydrogen-based shaft furnace plus electric furnace. Besides, the green steel, which targets a carbon emission decrease by 95% over the existing steel, will be used by the joint venture in the future.Both parties believe that the new MoU signing will help them improve their production and operation mechanisms, and lift carbon emission reduction efficiency.BaoSteel plans to put its hydrogen-based shaft furnace into operation in 2023, which will further lower carbon emissions amid the manufacturing process.
Chinese steel giant BaoSteel and automaker Beijing Benz Automotive have inked a memorandum of cooperation on green steel supply chain jointly promote the application of cleaner raw materials in the manufacturing process of complete vehicles and build a green automotive steel supply chain. Under the MoU, Beijing Benz Automotive will start using low-carbon steels from 2023 and aims to gradually decrease the carbon emissions from automotive steel by 50%-80% from 2026 through the technical route of hydrogen-based shaft furnace plus electric furnace. Besides, the green steel, which targets a carbon emission decrease by 95% over the existing steel, will be used by the joint venture in the future.Both parties believe that the new MoU signing will help them improve their production and operation mechanisms, and lift carbon emission reduction efficiency.BaoSteel plans to put its hydrogen-based shaft furnace into operation in 2023, which will further lower carbon emissions amid the manufacturing process.
