Cleveland-Cliffs CEO talks automotive industry, using hydrogen, but no update on U.S. Steel bid

Australia News News

Cleveland-Cliffs CEO talks automotive industry, using hydrogen, but no update on U.S. Steel bid
Australia Australia Latest News,Australia Australia Headlines

Cleveland-Cliffs offered no update on its bid to acquire U.S. Steel on Tuesday.

  • 📰 clevelanddotcom
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

Lourenco Goncalves, president and CEO of Cleveland-Cliffs, said he was prohibited by agreements from commenting on the status of efforts to buy U.S. Steel. CLEVELAND, Ohio — Cleveland-Cliffs CEO Lourenco Goncalves offered up updates about the automotive industry and using hydrogen to make steel during a presentation for investors Tuesday morning, but he stayed clear of commenting on Cliffs’ desire to acquireGoncalves started the earnings call by addressing the U.S.

customers do not include Ford, GM or Stellantis, who are often referred to as the Detroit “Big Three.”the micro-chip shortage or other supply chain issues that hit the automotive industry in 2021 and 2022. “Our decision to use hydrogen as our decarbonization path sets us apart from the crowd,” Goncalves said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

clevelanddotcom /  🏆 301. in AU
 

Australia Australia Latest News, Australia Australia Headlines



Render Time: 2025-01-17 09:49:55