Mercedes Benz Inks Low Carbon Aluminum Supply Agreement With Hydro

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.
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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.
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