Electric Vehicles and the Future of the Automotive Market

Ask an Expert: Electric Vehicles and the Future of the Automotive Market

From October 30 to November 1, POSCO held the 2017 Global EV Materials Forum at the Songdo POSCO R&D Center. More than 300 clients from over 18 countries attended the event to learn about future trends that will shape the future of the auto industry. To kick off the forum, Stephen Zoepf, executive director at the Center for Automotive Research at Stanford University gave a presentation called “Electric Vehicles: Adapting to a Changing Marketplace” to share his insights on what future markets will look like and implications for automakers, suppliers as well as consumers.   Here are the key takeaways. The Future is Going to Look Very Different According to a report by RethinkX, an independent research group, 6 trillion...

India A Rising Sun in the Global Renewable Energy Industry

India: A Rising Sun in the Global Renewable Energy Industry

According to the World Bank, India is the world’s third largest consumer of electricity in 2017 after a 90 per cent year on year growth. Yet 240 million people within its population of 1.3 billion have no legal electricity connection. India’s solar energy plans, of which the World Bank is a financial backer, are on track to provide access to electricity for all Indians, to help contain global warming, reduce the cost of power and improve the quality of life for all Indians. India’s Solar Energy Market Solar energy is an extremely vital and rapidly developing industry in India. From May 2014 to March 2017, the country quadrupled its solar generation capacity. The average cost of solar electricity is 18...

How POSCO Makes Surgical Stainless Steel Sustainable

How POSCO Makes Surgical Stainless Steel Sustainable

Stainless steel is one of the most common types of steel used today, from kitchen appliances to construction and pipelines. Its non-corrosive, high-strength and 100 percent recyclable properties make stainless steel the go-to material for manufacturers across all industries. It is also the most common material found in medical supplies that contribute to people’s health and safety on a daily basis.   Surgical Steel “Surgical steel” is a term used to describe stainless steels for medical applications, and are generally made up of 316, 440 and 420 stainless steels. Surgical stainless steels are corrosion resistant, have a shiny, aesthetically pleasing exterior and are extremely hygienic. Plus, they have a long life cycle and require minimal maintenance. Due to these properties,...

Why Electrical Steel Can Make All The Difference In EV Motors

Why Electrical Steel Can Make All The Difference In EV Motors

As the global electric vehicle market grows, demand for EV materials such as electrical steel is growing in lockstep. Motors determine the horsepower of a vehicle, and are central to the efficiency and overall performance of EVs. Thus, high-quality electrical steels are sought after by automakers vying for the biggest share of the growing EV market. According to Markets and Markets, the market for electrical steel is projected to expand from USD 27.84 billion in 2016 to USD 38.98 billion by 2021, at a compound annual growth rate (CAGR) of 7 percent. Electrical steels go through various demanding production processes such as annealing, hot and cold rolling and insulation coating. Having the most advanced production technology is paramount, and choosing...

How Quality Wire Rods Benefit Automakers

How Quality Wire Rods Benefit Automakers

Last month, POSCO opened its second overseas automotive wire rod plant in Indiana. The new facility has an annual production capability of 25,000 tons and will supply premium automotive wire rods to its partners in the U.S. Although wire rods are not always in the spotlight, they are widely used in many parts of a car. Steel wire rods are processed into parts for the steering and suspension systems, tire cords and bearings. However, not all wire rods are the same, and improvements in production technologies can increase automotive performance, safety and cost-effectiveness. POSCO’s world premium steel wire rods provide such solutions to its automotive partners as the global demand for automotive wire rods continues to grow. Take a look...

How POSCO Sees a Future of Renewable Energy

How POSCO Sees a Future of Renewable Energy

October is National Energy Awareness Month in the United States, meant to raise awareness for the importance of energy for sustainability and environmental well-being. Carbon-based fossil fuels are finite resources that are gradually becoming too costly to extract, both in terms of environmental impact and financially. These resources will run out, or fall out of use as the cost of retrieval outweigh the reward. Renewable, sustainable energy comes from resources that are replenished regularly — typically, the wind and the sun. Whether hydroelectric power, bioenergy, geothermal energy, or solar photovoltaic power, sustainable energy sources protect the environment and offer a future-proof way to power people’s lives. Historically, renewable energy has been overlooked in favor of carbon-based energy, owing to the...

How POSCO’s Manganese Plates Give a Lightweight Advantage

How POSCO’s Manganese Plates Give a Lightweight Advantage

The Korean Society of Automotive Engineers (KSAE) held its 2017 KSAE Baja/Formula/EV tournament for university students on August 10~12. From all over Korea, 180 teams took part in 4 major categories of competition: Baja (off-road racing), Formula (on-road racing), Electric Vehicle and Technology. Take a look at the video below for highlights from this year’s event. As major automakers around the globe are investing in and developing electric vehicles (EV), there was much anticipation and attention focused on the EV category and its top winners the Tuning X team of Soeyeong University. A major factor in the team’s achievement was the application of POSCO’s magnesium plates for the car body instead of aluminum, something the team had never done before....

5 Reasons Why AHSS Tops the Market for Lightweight Auto Materials

5 Reasons Why AHSS Tops the Market for Lightweight Auto Materials

World Auto Steel (WAS) kicked off its #Steelyourworld campaign to highlight the benefits of advanced high-strength steel (AHSS) as an automotive material. The first of the 4-part campaign is called #steelyourweight, and covers one of the best features of AHSS – its light weight.   Contrary to popular belief, mass reduction does not automatically equal fuel savings, especially when it comes to urban driving. There are other factors that determine the fuel efficiency of a vehicle such as driving cycle, vehicle size and its powertrain. Until recently, there was a  lack of variety in engine types and powertrains, so even though automakers reduced the weight of car frames, they could not apply a complementary engine or powertrain to the lighter...

How POSCO Uses Steel Waste to Clean the Oceans

How POSCO Uses Steel Waste to Clean the Oceans

The world’s largest garbage dump is not found on land. It’s in the world’s oceans. There is a shocking amount of garbage and waste in the world’s oceans, and it has gone unchecked for far too long. Ocean currents have drawn these floating garbage patches together into distinct regions, and, according to the National Geographic, one in the Pacific covers an area larger than Mexico. Individuals, governments, and companies are heeding the call of oceanographers and other scientists and realizing more and more that a healthy ocean is vital to humanity’s survival. Many organizations are working to protect this natural resource by implementing sustainable, responsible practices to help clean up the oceans. The State of the Ocean Today Plastic is...

How POSCO’s Advanced Technology Gives Speed to Korea’s Para Ice Hockey Team

How POSCO’s Advanced Technology Gives Speed to Korea’s Para Ice Hockey Team

It may not be winter yet, but para-athletes are at the peak of their training in preparation for the biggest international winter sports event coming up in early 2018. The Korean National Para Ice Hockey Team just finished off their training camp and have begun intensive training. Para ice hockey, previously called ice sledge hockey, may not be common to everyone, but many consider it the highlight of para-athletic events. A team is composed of athletes who have a physical impairment in the lower part of their body, so instead of wearing skates, they glide through the rink on ice sledges (also known as sleds). Watch any para ice hockey match, and it will be surprising to see that there...

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