May 27, 2021 – Mercedes-Benz AG is the first car manufacturer to take an equity stake in Swedish start-up H2 Green Steel (H2GS) as a way to introduce CO₂ free steel into series production. Together with its steel suppliers, the company is retooling its supply chain to focus on the prevention and reduction of CO₂ emissions rather than compensation.
With an equity stake in H2 Green Steel, Mercedes-Benz is sending an important signal to accelerate change in the steel industry and increase the availability of carbon-free steel. As a first step, we are investing a single-digit million amount. As a preferred partner of the start-up, we will be launching green steel in various vehicle models as early as 2025.