Toyota Motor Corporation has decided to halt the development of its next-generation battery electric vehicles, specifically targeting a sedan model for its luxury brand Lexus that was originally planned to commence production in mid-2027. This vehicle, featuring fast-charging capabilities and longer cruising range, was showcased at the Japan Mobility Show in October 2023. Initially planned for market launch in 2026, its production start was later postponed to 2027. Over the past year, Toyota's global electric vehicle sales exceeded 190,000 units, a year-on-year increase of 42.4%. However, the decision by the Trump administration in the US to eliminate tax incentives for electric vehicle purchases has created adverse market conditions.

Recently, BYD's Yangwang Auto announced that the Yangwang U9 engineering test vehicle achieved a top speed of 472.41 km/h at Germany's ATP test track, breaking the global electric vehicle speed record. This milestone marks the first time a Chinese independent brand has claimed the world title in this field. This super electric sports car is equipped with Shougang Group's 0.1mm non-oriented electrical steel. The record-breaking achievement not only showcased China's speed to the world once again but also demonstrated the formidable capabilities of China's high-end electrical steel materials. The Yangwang U9 engineering test vehicle features the world's first 30,000 rpm high-performance motor. To overcome the limitations of electrical steel materials on motor energy consumption, it utilizes Shougang Group's 0.1mm ultra-low iron loss electrical steel. Compared to the widely used 0.2mm electrical steel in the industry, the 1000Hz iron loss is reduced by 39%. This product combines excellent characteristics of low iron loss, high magnetic induction, and high strength, providing robust material empowerment for high-grade, high-performance main drive motors.