Multiphase steels have improved mechanical properties and enhanced ductility compared to conventional high strength steels and therefore have the potential for contributing to automotive mass reduction and crashworthiness requirements. The mechanical properties of multiphase steels are strongly dependent of the amount, size and morphology of retained austenite, bainite and martensite. The high work hardening and uniform deformation is a consequence of the Transformation Induced Plasticity (TRIP) effect of the retained austenite during straining. Further improvements in mechanical properties (>1000 MPa UTS) can be produced by precipitation, thus, vanadium additions are being considered. In this work a detailed study of the microstructural an...