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POSCO develops a new kind of steel for electric cars

POSCO announced that it has developed a new kind of steel for electric cars that is much lighter than the product currently in use in the market.

The company said that it has successfully developed a kind of steel that it calls POSCO Concept Electric Vehicle. The steel will be used to make the bodies of electric vehicles.

Mr Chung Joon yang CEO of POSCO said that “PBC EV is the outcome of our sincere efforts toward green growth and co prosperity with our clients. By combining POSCO’s cutting edge steel materials and technological prowess, we are making a good contribution to the commercialization of electric cars.”

POSCO said that the newly developed PBC EV steel is composed of the company’s so called ultrahigh strength steel, which is 40% more concentrated than regular steel used in car manufacturing.

To increase both the intensity and flexibility of its new product, POSCO has adopted two new methods it calls hot press forming and multi direction roll forming. It claims a car made of the PBC EV steel can help reduce greenhouse gas emissions by 50% compared to ordinary cars.
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