Alcoa said the new product is still in the testing phase and will produce a metal plate that is stronger than existing aluminum and that is easier to shape into automotive body parts.
The company's executives said that the new aluminum alloy materials will be available in 2018.
Alcoa is moving from mining development, aluminum smelting to automotive and aircraft parts manufacturing. The company has achieved considerable success in the automotive manufacturing sector. The demand for aluminum from the automotive industry has grown in recent years, and aluminum vehicles are lighter and more energy efficient.
The company is currently targeting the $1 billion door and fender steel market each year. When automaker FordMotor decided that 97% of the F-150 pickup truck body would use aluminum, the company received a small boost.
AlcoaCEOKlaus Kleinfeld said that automakers have told him that he wants to use lightweight materials without changing the safety of the car, as well as the forming properties of the steel, suitable for automotive design. Kleinfeld said that aluminum needs
A breakthrough in production technology.