It is obvious that automotive industry worldwide is predicting significant growth in the use of magnesium alloys for weight reduction to decrease fuel consumption and emission. About a half decade ago, the price of magnesium alloys was more than twice that of aluminum alloys on a weight basis. Currently, magnesium alloys cost about one and a half times that of aluminum alloys on a weight basis, and thus the price of magnesium alloys is the same as or lower than that of aluminum alloys on a per volume basis. However, in considering the performance of magnesium components (not their specific mechanical properties) and recycling aspect of magnesium alloys, it is required to realize niche applications of magnesium alloys, which meet the cost requirement on performance basis and/or offer more than weight reduction. There are many other factors that make magnesium a good choice: component consolidation, improved safety for driver and passengers, and improved noise vibration and harshness (NVH), to name a few. As one of these efforts to adopt magnesium alloys in automotive component, this paper describes the research strategy of cold chamber type 2-cavity die casting of AM50 magnesium alloy for developing the steering column lock housing module with emphasis on cost driving factors and necessities for cost reduction, explaining why AM50 magnesium alloy is chosen with design and die casting process optimization.