ArcelorMittal halted its plans to produce green steel in Germany, despite being offered €1.3 billion ($1.5 billion) in subsidies, citing poor market conditions.
The decision sparked backlash in Bremen, with workers’ representatives accusing the company of avoiding its responsibility to invest in progress. In contrast, other German steelmakers like ThyssenKrupp and Salzgitter are still moving ahead with hydrogen-based steel production, supported by €5.7 billion in funding. Experts say high energy costs and a slow rollout of hydrogen make green steel production financially risky. While investors welcomed ArcelorMittal’s move, critics argue the company missed an opportunity to lead in climate-friendly innovation.
This video summary was created by AI from the original DW script. It was edited by a journalist before publication.