Baosteel projects
By Richard Fu |
October 19, 2010, Tuesday
|
Print Edition
Print Edition
BAOSTEEL Group Corp yesterday launched two projects to make auto parts such as bumpers as it seeks a bigger role in the auto business.
Total investment in the projects will reach 450 million yuan (US$67.7 million).
The projects are based on hot stamping and hydroforming, both newer metal forming technologies that produce strong, lightweight pieces. Baosteel said China previously had to rely on imports for such technologies and related products. Baosteel supplies almost half of the auto sheets to domestic auto makers.
Baosteel last month set up a laboratory with top Chinese auto maker SAIC Motor Corp to research new steel products that will reduce vehicle weight. Chinese cars are now 8 to 10 percent heavier than overseas competing models.
Total investment in the projects will reach 450 million yuan (US$67.7 million).
The projects are based on hot stamping and hydroforming, both newer metal forming technologies that produce strong, lightweight pieces. Baosteel said China previously had to rely on imports for such technologies and related products. Baosteel supplies almost half of the auto sheets to domestic auto makers.
Baosteel last month set up a laboratory with top Chinese auto maker SAIC Motor Corp to research new steel products that will reduce vehicle weight. Chinese cars are now 8 to 10 percent heavier than overseas competing models.
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