Hyundai Steel said on June 30 it will speed up the development of high-strength steel materials to gain an upper hand in the global automobile market.

This year, the steelmaking arm of Hyundai Motor Group aims to supply 1 million tons of steel plates to leading car makers across the globe through various research and development activities, an official said.

Last year, the company developed 218 types of ultrahigh strength steel, and received certifications from global carmakers for its 167 car parts products. It plans to add 99 more this year.

Engineers at Hyundai Steel seen at a research lab of the company (Hyundai Steel)

The company produced hot stamped steel for Hyundai Motor’s bestselling sedan Avante’s latest model as well as 1.5GPa-grade high-strength steel for auto parts needed to ensure vehicle safety.

Hyundai Steel also hopes to obtain quality certifications from European and Chinese carmakers to boost its global competitiveness.

To cope with growing demand for lightweight cars, the company is gearing up to develop steel products with high strength, which are lighter. Hyundai has recently launched 1.8 GPa ultrahigh tensile steel that can be applied for large-sized electric vehicles.

“(Hyundai Steel) will speed up its development of light weight auto parts to expand its presence in the global auto parts market,” an official said.

By The Investor (theinvestor@heraldcorp.com)