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POINT ROBERTS, Wash.,
Jan. 12, 2012 /PRNewswire/ --
www.InvestorIdeas.com, a global investor research portal for independent investors, reports on developments in the auto industry showcased at the North American International Auto Show in
Detroit and how magnesium will play a key role in future innovation. The advancement of lighter weight automobiles will result in significant fuel efficiency. The Cadillac ATS by General Motors and the Porsche 911 Carrera and Carrera S Coupes were a few of the high profile cars on display utilizing magnesium.
Ford F-150, one of the best selling vehicles in the country, also announced that its next generation of Ford F-Series will employ aluminum and magnesium for weight savings, a necessary step to meet the looming EPA's CAFE standards.
Alex Markin, Managing Director of International Magnesium Group "IMG," wholly owned subsidiary of China Direct Industries, Inc., (NASDAQ:CDII), "We anticipate the demand for magnesium in the automotive industry to escalate worldwide. This will be driven by mandates to lower fuel consumption and by buyers wanting lighter cars as energy costs continue to increase. Our magnesium segment is positioned to capitalize on the potential growth of magnesium in the automotive industry worldwide through our manufacturing competiveness and policy of stabilized pricing. IMG will be able to provide U.S. automakers with competitively priced magnesium if and when the U.S. government lifts its constraints on imported magnesium."
Magnesium is stronger and lighter than steel and aluminum; 33% lighter than aluminum, 60% lighter than titanium, and 75% lighter than steel.
According to a press release from Porsche, "Development of the new, seventh-generation 911 Carrera and Carrera S Coupes began with a new aluminum-steel body; the Cabriolets continue the evolution with the addition of an all-new, unique top that retains the characteristic 911 coupe roof line. The intelligent lightweight design makes use of magnesium for weight reduction, improved performance and lower fuel consumption. As with the new 911 coupe, Porsche has managed to make the new Cabriolet models up to 132 pounds lighter than their predecessors."