EV industry prizes steel over aluminium, Cleveland-Cliffs CEO says

Electric-vehicle makers are choosing steel over aluminum as the preferred metal for automotive bodies, says the top executive at the largest steel provider to the US car industry.said EV companies are going “all-in” on steel as they build out plans for the transition away from combustion-engine vehicles.

“I don’t see any daylight between myself and Tom Conway,” Goncalves said, referring to the steelworkers union president. “I see them as partners of Cleveland-Cliffs.”One attendee in the audience of about 1 000 people asked if Goncalves’s focus on value over volume has cost Cliffs market share. The CEO responded that it had not happened in the sectors he’s trying to protect, like the automotive industry.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ford Motor Co. cutting 3,000 white-collar jobs in bid to lower costsDETROIT (AP) — About 3,000 white\u002Dcollar workers at Ford Motor Co. will lose their jobs as the company cuts costs to help make the long transition from internal… Some clips from the article: 'lose their jobs.....long transition to those powered by batteries' 2 levels of gov't flushing 100s of millions to 'save' jobs. Yeah right.
Source: OttawaCitizen - 🏆 21. / 68 Read more »