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NEW YORK--(BUSINESS WIRE)--Alcoa (NYSE:AA) announced today that it commends the U.S. Congress and
the White House for approving new vehicle fuel efficiency standards
incorporated in the energy bill. The new law requires 35 miles per
gallon fuel average for new domestic vehicles, including SUVs, by 2020 –
a 40 percent increase from current corporate average fuel-economy (CAFE)
standards.
“We are confident that the automotive industry
will be able to meet or exceed these goals through the increased use of
lightweight materials,” said Kevin Kramer,
president, Alcoa Wheel Products, who oversees Alcoa’s
Automotive Market Sector Team. “For more than
a century, aluminum has repeatedly proven its ability to reduce vehicle
weight and increase gas mileage while enhancing passenger safety.”
Since 1990, the increased use of automotive aluminum has avoided burning
more than 22.2 billion gallons of fuel. Additionally, each pound of
aluminum replacing two pounds of iron or steel in a car can save a net
20 pounds of CO2 emissions over the typical
lifetime of a vehicle.
“Alcoa looks forward to collaborating with
automobile manufacturers on a new generation of aluminum solutions to
further reduce greenhouse gasses,” said Kramer.
Alcoa has long championed the reduction of greenhouse gas emissions. The
company is a founding member of the U.S. Climate Action Partnership and
the Global Roundtable on Climate Change. Alcoa also has reduced its own
greenhouse gas emissions by more than 25 percent since 1990.
About Alcoa
Alcoa is the world's leading producer and manager of primary aluminum,
fabricated aluminum and alumina facilities, and is active in all major
aspects of the industry. Alcoa serves the aerospace, automotive,
packaging, building and construction, commercial transportation and
industrial markets, bringing design, engineering, production and other
capabilities of Alcoa's businesses to customers. In addition to aluminum
products and components including flat-rolled products, hard alloy
extrusions, and forgings, Alcoa also markets Alcoa®wheels, fastening systems, precision and investment castings,
structures and building systems. The company has 116,000 employees in 44
countries and has been named one of the top most sustainable
corporations in the world at the World Economic Forum in Davos,
Switzerland. More information can be found at www.alcoa.com.
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