(WEV) STEEL ZERO

Volvo Cars has become the first car maker to sign up to the SteelZero initiative, which aims to tackle carbon emissions produced by the steel industry.

Steel production is responsible for around seven per cent of all global greenhouse gas emissions and is a major contributor to the C02 emissions produced by the automotive industry. Currently, around 33 per cent of all emissions produced while making a Volvo car are from producing the steel parts.

By joining the scheme, Volvo, which has previously announced its intention to be carbon neutral by 2040, has committed to sourcing all net-zero steel by 2050.

Between now and 2040, Volvo aims to reduce the lifecycle carbon footprint per car by 40 per cent between 2018 and 2025. Its manufacturing processes and plants are powered by clean energy, and it is targeting a carbon emission reduction in its supply chain of 25% by 2025 to achieve this. Volvo Cars also looks to become a fully electric car maker by 2030, further reducing the climate impact of its vehicles.

Volvo Cars Chief Procurement Officer, Kerstin Enochsson, said: “We are pleased to join the SteelZero initiative and support its ambitions to transform the steel industry. By signalling our demand for responsibly sourced low- and zero-carbon steel, we aim to help drive an increased supply to our sector.”

SteelZero was launched in 2020 by the Climate Group. It was created in partnership with ResponsibleSteel, a steel industry-wide standard and certification body which Volvo Cars will also join.

According to the company, ResponsibleSteel will give Volvo Cars access to reliable, third-party-verified and audited information about its steel supply chain and relevant sustainability credentials, to help ensure it is responsibly sourced.

As well as CO2 reductions, ResponsibleSteel investigates other potential issue areas along the steel supply chain such as labour and human rights, engagement with local communities, water use and biodiversity impact.

Jen Carson, Head of Industry at Climate Group, said: “Volvo Cars joining SteelZero marks an important step change in the global demand signal for low-emission and net-zero steel, and a pivotal moment for the automotive industry. This sector plays a central role in driving the net-zero transition of steel. It is supporting the creation of a decarbonised steel market internationally that can enable the sector to meet its own net-zero targets and deliver a product that is truly aligned with the climate agenda.”

In Volvo’s push for decarbonising its steel, last year it announced it was working with Swedish steel maker SSAB to explore the development of fossil-free, high-quality steel for use in the automotive industry through SSAB’s HYBRIT initiative.

HYBRIT aims to replace coking coal, traditionally needed for iron ore-based steelmaking, with fossil-free electricity and hydrogen. If successful, it could be the world’s first fossil-free steelmaking technology, with almost no carbon footprint. WhichEV - link - Isabella McCrone - link - more like this (Sweden) - link

(CLE) VOLVO ELECTRIC TRUCKS - 100 ES ORDER

Give Tesla all the credit in the world for getting the EV revolution started, but the rest of the automotive universe isn’t waiting around for Tesla. News of the Tesla Cybertruck ignited a frenzy of interest in electric pickup trucks when it was announced. 

That level of interest resonated in corporate boardrooms all across America as first Ford, then GM, and finally Dodge announced that, yes indeed, they would offer electric pickup trucks, too!

Tesla also announced some time ago that it would offer an electric semi — the tractor that hauls semi-trailers back and forth across the continent and everywhere in between. Then yesterday, Elon Musk announced the Semi is delayed until 2023 at the earliest.

But once again, Tesla lit the fuse on the electric semi transition and others have begun piling into the space created by Elon and his Musketeers. Volvo Trucks (which is not the same as Volvo Cars) has been hard at work developing electric semis and has just received an order for 100 of them from DFDS, northern Europe’s largest shipping and logistics company with annual revenues of €19 billion.

The deal is the largest commercial order to date for Volvo electric trucks and one of the largest ever for heavy duty electric trucks. The first Volvo FM Electric was delivered to DFDS in August. Delivery of the remaining trucks will begin in about a year from now and continue though 2023. The trucks will be used on both short- and long-haul routes in the DFDS logistics system in Europe - link - Steve Hanley - link - more like this - link

VOLVO LOOKING TO TAKE BACK CONTROL

Volvo Cars, a sister company of Chinese car maker Geely Holding, to take full ownership of its car manufacturing plants and sales operations in China by acquiring Geely Holding's stake, in order to maintain its influence in its largest market, the company told Global Times on Wednesday. 

The acquisition of an additional 50 percent of the shares in Daqing Volvo Car Manufacturing Co and Shanghai Volvo Car Research and Development Co will strengthen Volvo Cars position in China, said the company.

Following the transactions, Volvo Cars will receive full ownership of its manufacturing plants in Chengdu of Southwest China's Sichuan Province and Daqing in Northeast Heilongjiang Province, its R&D facility in Shanghai and its national sales company in Chinese market.

"The acquisition will create a clearer ownership structure within both Volvo Cars and Geely Holding," said Daniel Donghui Li, Geely Holding chief executive officer. Håkan Samuelsson, chief executive of Volvo Cars also said Volvo Cars will become the first major oversea automaker with full ownership over its Chinese operations after the acquisition.

The transactions will be started in 2022 and be completed in 2023. The transactions are pending regulatory approvals - link