BMW started on Tuesday to source and use aluminium produced using solar energy, according to CNBC. The company termed the move as an “important milestone” in its goal to cut carbon dioxide emissions from its supply network.
- BMW’s move is part of its wider “long-term” strategy to source aluminum produced from renewables, which could save about 2.5 million metric tons of CO2 by 2030
- The Emirates Global Aluminum (EGA), an industrial firm in the United Arab Emirates, will provide BMW with 43,000 metric tons of aluminum this year, in a “triple-digit million-euro contract.”
- The “solar aluminum” sourced from the UAE will account for almost half of the yearly requirements of BMW’s Landshut foundry in Germany.
- BMW’s move comes when other car companies ramp up electric vehicle offerings amid challenges of producing battery cells.
- BMW considers aluminum important since its lightweight properties enable it to partially offset the heavyweight of batteries.
BMW stock is currently gaining. BMW is up 2.18%.
