Mercedes Benz Inks Low Carbon Aluminum Supply Agreement With Hydro

Author: Shivani Kumaresan | December 15, 2022 07:27am

• Mercedes Benz Group ADR (OTC:MBGYY) has partnered with Norwegian aluminum and renewable energy company Norsk Hydro ASA (OTC:NHYDY) on a joint technology roadmap from 2023 to 2030.
• The parties aim to develop aluminum solutions approved for automotive applications with a CO2 footprint below 3.0 kgCO2/kgAl. 
• Hydro will deliver its first volumes of aluminum with a footprint below 3.0 kg CO2 / kg aluminum, Hydro REDUXA 3.0, to Mercedes-Benz in 2023.
• The product will be introduced to a range of Mercedes-Benz models, including their EQ models.
• Also Read: Mercedes-Benz Vans Plans To Build EV Plant In Poland
• With this partnership, Mercedes-Benz and Hydro will collaborate and research how low-carbon and recycled aluminum solutions can be used in vehicles.
• "The ambition of making their entire fleet of new passenger cars CO2 neutral by 2039 matches Hydro's ambition to deliver industrial scale zero-carbon aluminium by 2030," said Hydro CEO Hilde Merete Aasheim. 
• Price Action: MBGYY shares closed higher by 0.12% at $17.08 on Wednesday.
• Photo Via Company

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