Austrian steelmaker voestalpine has announced that it will invest €100 million in further development of hot dip galvanized high-strength steel originally developed by the company itself in 2002 for lightweight construction of car body panels.
Voestalpine expects to double its sales for the automotive industry in the next few years. The company's current turnover in the automotive industry is at €1.1 billion. Voestalpine stated that the technology in question can reduce weight, and therefore fuel consumption, while significantly enhancing passenger safety.
The company will display a "revolutionary enhancement" of the product at the Geneva Motor Show to be held on March 8-18.
Voestalpine to invest in high strength steel for automotive industry
Demet Kazdal
EditorAfter graduating from Boğaziçi University with a degree in English Language and Literature, I have spent the past 15 years developing deep expertise in the steel industry. At SteelOrbis, I serve as Head of Content Department. I write and edit comprehensive news and reports on steel markets, with a primary focus on the Turkish market as well as global market dynamics.
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