According to the CEO of the American steel company Cleveland-Cliffs Inc. Lourenko Gonçalves, electric car manufacturers are completely switching from aluminum to steel.
The importance of the CEO's comment is emphasized by the fact that Cliffs is one of the major players in the automotive market, supplying steel to automotive giants such as General Motors Co., Ford Motor Co., Toyota Motor Corp., Nissan Motor Co. and Mercedes-Benz AG.
Gonsalves' remarks came during a wide-ranging discussion at a steel industry conference in Atlanta.
The CEO also spoke about upcoming labor talks with United Steelworkers, noting that he sees no disagreement with USW officials and expects them to avoid the strike and close the deal.
"I don't see any disagreement between myself and Tom Conway," Gonsalves said, referring to the president of the steel workers' union. "I see them as Cleveland-Cliffs partners."
