Recently, the world-renowned aluminum rolling company Novelis has signed a supply agreement with Toyota, Japan's largest automobile company, to provide aluminum products for the new model RAV-4 body. RAV-4 is a non pickup truck brand that Toyota Motor is pushing this year. Toyota is increasing the weight of aluminum applications to reduce the weight of the vehicle body. It also plans to increase the axle distance.
In addition, Novelis has continued to strengthen its position in the automotive Asian aluminum market. According to a report released by the company, the total demand for automotive aluminum in Asia currently amounts to 150 tons, accounting for about 10% of the total global demand, but it is expected that the total global demand will grow at an annual rate of 12 in the next 10 years. %, Which will increase to 3.5 million tons by 2025, of which the Asian market share will account for about one-third. The company will proactively develop new products to meet the diverse needs of the region's markets.
Novelis started supplying aluminum for the body of Hyundai GENESIS in 2008; in 2016, it provided high-strength aluminum alloys for the environmentally-friendly hybrid electric vehicle IONIQ, which is mainly used in engine covers and tailgates. It can reduce about 45%; in 2018, it will supply aluminum for KONA electric vehicles, and the cooperation between the two sides is closer.
It is worth mentioning that in 2018, in the Nanyang Research Institute of Hyundai Motor, Novelis, as an advanced automotive aluminum company, demonstrated the application technology of body aluminum, the latest products, and cooperation activities with different customers, which fully demonstrated the automobile. Many advantages such as high efficiency, safety and environmental protection of aluminum. Novelis has been committed to accelerating the promotion of high-performance, high-quality aluminum products in the Asian market for a long time.