Microalloying elements like Al, B, Nb, Ti ,V can be used to optimise the microstructure evolution and the mechanical properties of advanced high strength steels (AHSS). Microalloying elements are characterised by small additions < 0.1 mass% and their ability to form carbides or nitrides. They can increase strength by grain refinement and precipitation hardening, retard or accelerate transformations and affect the diffusion kinetics as well as the stacking fault energy. Thus, by their addition the AHSS with their high requirements to process control can be adopted to existing processing lines. Different combinations of microstructural phases and different chemical compositions have been investigated for AHSS in order to combine high strength with excellent formability. The recently developed high manganese steels further improve the formability due to their austenitic microstructure and inherent phase transformations during forming.