The BMW Group is systematically implementing its sustainability goals. As announced today, the company is investing in an innovative method for CO2-free steel production developed by American startup Boston Metal, through its venture capital fund, BMW i Ventures. Over the coming years, Boston Metal plans to expand the new method for steel production on an industrial scale. The investment is part of the BMW Group’s far-reaching sustainability activities aimed at significantly reducing CO2 emissions across the supplier network.
“We systematically identify the raw materials and components in our supplier network with the highest CO2 emissions from production. Steel is one of them, but it is vital to car production. For this reason, we have set ourselves the goal of continuously reducing CO2 emissions in the steel supply chain. By 2030, CO2 emissions should be about two million tonnes lower than today’s figure,” said Dr Andreas Wendt, member of the Board of Management of BMW AG responsible for Purchasing and Supplier Network.
With its versatile properties, steel is one of the most important materials in car production and will be no less important for future vehicle generations. Even with the dynamic ramp-up of electromobility, steel will remain an important building material for car bodies and many components. BMW Group press plants in Europe process more than half a million tonnes of steel per year.
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