Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

AB Volvo and Swedish steelmaker SSAB have signed a collaborative agreement to produce trucks using fossil-free steel under the Hybrit initiative by 2022.


Volvo will start production on a small scale in the first phase and eventually ramp up production. SSAB will supply the components made using ‘green’ steel with hydrogen as a reducing agent under the Hybrit initiative. Both companies haven’t disclosed production numbers in their joint statement on Thursday.


Hybrit, comprised of steelmaker SSAB, miner LKAB and power firm Vattenfall, aims to produce about 2.7mn mt of fossil-free steel by 2030 and supply it to downstream steel producers.

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