WOLFSBURG (dpa-AFX) - Volkswagen Group (VKW.L, VLKAF.PK, VOW.BE) and Salzgitter AG (SZGPF.PK, SZGPY.PK) announced a Memorandum of Understanding under which Volkswagen will become one of the first customers for the low-CO2 steel that Salzgitter AG plans to produce on a new production route at its headquarters in Lower Saxony from the end of 2025. The Volkswagen Group plans to use the low-CO2 steel in important future projects such as the Trinity1 e-model, which will be produced in Wolfsburg from 2026.
The companies also agreed to establish a closed-loop recycling system for steel between Volkswagen's main plant in Wolfsburg and the integrated steelworks in Salzgitter.
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