Chinese carmakers will offset auto steel demand decline in Europe, Thyssenkrupp steel boss says
28/09/2026 15:54
Chinese carmakers will offset auto steel demand decline in Europe, Thyssenkrupp steel boss says FRANKFURT, Sept 28 (Reuters) - Chinese automakers expanding production in Europe will more than offset a drop in local steel demand caused by struggling legacy rivals, the CEO of the continent's second-largest steelmaker, Thyssenkrupp Steel Europe, said on Monday.
Chinese automakers will account for around 900,000 tonnes of automotive flat steel demand in the European Union by 2033, Marie Jaroni said, compared with zero in 2025, which would give them a 6.3% share.
"They build factories and supply chains," Jaroni told investors during a capital markets day, mentioning BYD 002594.SZ, Chery 9973.HK and Geely 0175.HK.
(Reporting by Christoph Steitz, Editing by Rachel More)
((christoph.steitz@thomsonreuters.com; +49 30 220 133 647))
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