Baosteel, Chery Holding ink pact for building green, low-carbon steel supply chain

Beijing (Gasgoo)- Baosteel Group Corporation (Baosteel) and Chery Holding officially signed a memorandum titled "Creating a Green and Low-Carbon Steel Supply Chain" on December 14, focusing on fostering a green, low-carbon automotive supply chain for future collaboration and driving both parties towards sustainable development goals. 

Signing ceremony; photo credit: Baosteel

The agreement centers on implementing Baosteel's BeyondECO® low-carbon materials in Chery Holding’s products, fostering productive discussions on pilot applications.

As per the memorandum, Baosteel will progressively supply low-carbon emission green steel (BeyondECO®-30%) to Chery's existing production car models starting from 2024. From the year 2026, utilizing hydrogen-based vertical furnace low-carbon metallurgical technology, Baosteel aims to provide over 50% reduced carbon emission green steel (BeyondECO®-50%) for Chery's production models. Subsequently, there are plans to further supply green steel with over 80% reduced carbon emissions (BeyondECO®-80%).

Chery Holding has consistently prioritized green and low-carbon development, integrating green practices across the entire automotive lifecycle. The company's commitment to sustainable growth, demonstrated through green design, procurement, manufacturing, marketing, and recycling initiatives, aligns with its "Yao Guang 2025" strategy. Chery is poised to unveil 24 car models riding on the hybrid electric 3.0 system and 15 premium electric models riding on the E0X platform within two years.