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...Tata Steel is receiving £500mn of state support to help its transition to producing green steel through electric arc furnaces, which are less carbon-intensive and require fewer workers....
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...Like Ford — who amassed an empire of iron and coal mines and steel foundries to control his supply chain — Wang is “democratising” electric vehicles and the batteries they rely on via a vertically integrated...
...Workers at Tata Steel’s operations in south Wales have voted for strike action for the first time in 40 years in response to the Indian group’s plans to close the last two remaining blast furnaces....
...The company has, so far, drawn $35mn in investment from the likes of Goodyear Ventures and Gogoro, the Taiwanese electric scooter and battery-swapping provider....
...India’s biggest steel producer JSW and Chinese carmaker SAIC Motor on Wednesday launched a $1.5bn joint venture to build and sell MG-brand electric vehicles in the world’s most populous country....
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...The company’s Indian owners told trade union leaders on Thursday that they would push ahead with the closure of two blast furnaces at its Port Talbot plant in south Wales, the UK’s largest steelworks, by...
...Electric arc plants use scrap steel, of which Britain has a surplus....
...Under the plans, the company will invest £750mn towards the restructuring and building of a less carbon-intensive, electric arc furnace on the same site, backed by a £500mn government grant....
...But analysts said south-east Asia’s biggest economy was well-positioned to shape global supply and prices on its own....
...A combination of technological change, globalisation and the emergence of a new type of investor has changed the face of American capitalism, replacing one-time leaders such as General Electric and Du Pont...
...The US, Japan and South Korea issued an unusual joint statement last week as Tokyo and Seoul signalled they were concerned about the weakness of the yen and the won....
...The carmaker also announced plans to build plants in North Carolina and Indonesia as part of a global expansion plan....
...Glencore plans to suspend production and sell its stake in the Koniambo nickel operations in New Caledonia after a sharp slump in price for the metal, a component of stainless steel and electric car batteries...
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...Nippon Steel’s planned purchase of US Steel is being seen as a test case for how Japan’s managers, unaccustomed to dealing with trade unions, cope with increasingly fiery American workers....
...The steel town of Port Talbot is braced for the same “devastating” decline suffered by a string of once-thriving South Wales valley communities, trade unions have warned, after Tata on Friday said up to...
...South Korean companies have committed the most, announcing nearly $30bn....
...A government aide said the agreement reached with Tata “secures the long-term future of steel in South Wales”....
...But that requires clear rules of the road for “friendshoring”, which have yet to be worked out, as evidenced by the Biden administration’s recent pushback against Nippon Steel’s attempt to acquire US Steel...
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