POSCO hosted the 2017 Global EV Materials Forum at the Songdo Global R&D Center in Incheon.

POSCO welcomed more than 380 local and overseas customers to the forum where they announced the current status of POSCO Group’s EV projects and strategies. The company also showcased its core EV technologies for high-value-added products such as motors, batteries and lightweight chassis/bodies.

During the forum, POSCO highlighted customer needs, market trends and development statuses in three areas: lightweight materials, traction motor cores and batteries. POSCO researchers also gave presentations on POSCO’s high-value-added products and solutions to share market insights and technological developments with the participants.

Participants listen to presentations at the 2017 Global EV Materials Forum.

In his keynote speech, In-hwan Oh, president of POSCO, said, “POSCO is in full preparation for the future of an electric vehicle ecosystem, to become a reliable partner to our customers.”

There were also external speakers at the forum, including Stephen Zoepf, Executive Director of the Center for Automotive Research at Stanford University, who spoke about “Electric Vehicles: Adapting to a Changing Marketplace.” Another external speaker was Martin Woehrle, senior director of BMW Korea, who gave a presentation on the trends in EV development.

In addition, POSCO held a separate exhibition at the venue consisting of four key product zones: motors, batteries, light-weight chassis/bodies and charging infrastructure. There was also an EV model on display in the Highlight Zone for a better understanding of the structure of EVs.

Visitors examine the electric Nissan Leaf

On display In the lightweight chassis/bodies exhibition zone was POSCO GIGA STEEL for lightweight chassis/bodies, which is lighter but much stronger than existing automotive steel sheets. Also on display was POSCO’s lithium materials for EV batteries; POSCO is the first company in Korea to commercially produce lithium for EV batteries.

In the motor zone was POSCO Daewoo’s a high-efficiency traction motor core for EVs made with POSCO’s Hyper NO, its highest-grade, non-oriented electrical steel. POSCO is already supplying it to major automakers.

The charging infrastructure zone showed POSCO ESM and POSCO Chemtech’s core materials of EV batteries, such as cathode and anode materials. In addition, POSCO ICT is the only company in Korea to provide a total-service electric vehicle charging infrastructure, including supply, installation and operation to membership management and supplementary services.

To close, POSCO pledged to become a “Total Solution Provider” for its partners in the auto industry bracing for the age of electric vehicles with its innovative technology, premium products and customized services.

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POSCO’s innovations in steel technology have long supplied material solutions for the automotive industry. Last year, POSCO sold approximately 9 million tons of automotive steel sheets, accounting for 10% of the global automotive steel sheet market. In 2017, POSCO’s focus on providing customers with the most advanced, high-quality steel continues with POSCO GIGA STEEL.

POSCO GIGA STEEL, the Beginning of a New Era

POSCO GIGA STEEL represents the apex of steel technology as it is lightweight, strong, and highly formable – exactly what automakers are looking for. Innovations in POSCO’s manufacturing processes reduce both its production emissions and price, making it a more sustainable and affordable option for car makers compared to other lightweight materials. See how POSCO GIGA STEEL is opening a new era for automotive steel in the video below.

POSCO GIGA STEEL Provides Strength & Safety

Automotive steel is categorized according to its tensile strength. POSCO GIGA STEELS fall into the highest category, which includes steels with a tensile strength rated at more than 1 GPa (Gigapascal), meaning it can withstand more than 100 kilograms-force per square millimeter. In the past, steels with tensile strength ratings this high have been problematic for automakers as they had low ductility and elongation properties.

What makes POSCO GIGA STEEL the ideal material for automakers is its ability to both bend and withstand an immense amount of weight and pressure. POSCO’s ultra high strength giga steel has up to three times more formability than other types of comparable steel on the market, making it ideal for manufacturers.

A car’s safety can also be enhanced significantly when POSCO GIGA STEEL is applied to a vehicle’s BIW (body in white) or front and back bumpers. POSCO GIGA STEEL is not only strong but has exceptional shock absorption during impact.

The strength and safety of POSCO GIGA STEEL have been tested and proven to meet the industry’s strictest safety standards. The POSCO Body Concept-Electric Vehicle (PBC-EV) is a lightweight and safe car body for electric vehicles made with POSCO GIGA STEEL. In safety tests, it received “five stars” from the Europe New Car Assessment Program and a “good” rating from the Insurance Institute for Highway Safety (IIHS) – the highest ratings one can receive from both organizations.

POSCO’s PBC-EV made with POSCO GIGA STEEL is both safe and lightweight.

POSCO GIGA STEEL Helps Deliver Lightweight & Sustainable Cars

Strict regulations on fuel efficiency and carbon emissions continue to push automakers to look for lighter materials to reduce the overall weight of vehicles. However, because stricter safety regulations typically require using heavier body parts, automakers are looking for both strong and light materials to build their cars. Lightweight solutions can be found in some alternative materials, such as aluminum and carbon fiber composites, but there are some drawbacks. For example, although POSCO GIGA STEEL is heavier than aluminum (when measuring equal parts area and thickness), it is more than three times stronger. Therefore, less of it is needed to manufacture products that are as light or lighter than those made with aluminum.

Car bodies manufactured with POSCO GIGA STEEL and other advanced high strength steels could see a 26% reduction in total weight when compared to cars of the same size with internal combustion engines. Considering that the average body weight of medium-sized cars in the early 2000’s was 280-300 kg, this is a remarkable achievement for automakers today.

Also, based on its life cycle assessment measuring carbon dioxide emissions from production to recycling, POSCO GIGA STEEL performs remarkably well as an eco-friendly material. According to the World Steel Association, steel emits 2.0 to 2.5 kg of carbon emissions when producing 1 kg of material while aluminum emits 11 to 12.6 kg when producing the same amount. Even after production, cumulative greenhouse gas emissions of vehicles made with steel is 10% lower when looking at the full life cycle.

POSCO GIGA STEEL Offers an Affordable Option

In automotive lightweighting, a reverse correlation often exists between price and weight. Lighter materials are typically more expensive and heavier materials usually have a lower price. POSCO GIGA STEEL helps bridge this gap by producing automotive steel that is both lightweight and cost-effective.  

Body parts made of POSCO GIGA STEEL can see significant cost savings. Alternative materials like aluminum can cost anywhere from 2.1 to 3.5 times more than POSCO GIGA STEEL. Additionally, current market prices of alternative materials are not expected to decrease over the next ten years.

Facing increasingly strict regulations, POSCO GIGA STEEL offers an ideal choice for automakers to build stronger, lighter, and more sustainable cars. According to POSCO Research Institute (POSRI), advanced high-strength steels (AHSS) like POSCO GIGA STEEL should see increased demand, accounting for 69% of total steel plates by 2023.

Throughout April & May, The Steel Wire will explore how POSCO is leading the automotive steel market with its innovative steel products like POSCO GIGA STEEL. Don’t miss any of the exciting stories from The Steel Wire – subscribe via email today.