Abstract: The ferritic stainless steel with 15% chromium (FSSNEW) for automobile exhaust system was developed. Its mechanical properties at room and high temperature and resistance to high-temperature oxidization and corrosion were investigated. The results showed that the developed steel exhibits higher strength than T409L and SUS430J1L with high plasticity and formability provided to meet the deep drawing requirements. Its high-temperature tensile yield strength is superior or equivalent to that of some other ferritic stainless steel now used. Moreover, its resistance to high-temperature oxidization, pitting corrosion and intergranular corrosion is more excellent than T409L.