Modified point is chip resistant. Made of Cobalt Steel. Substantially more abrasion resistant. High red hardness . Permits speeds 30% greater than high speed steel KnKut Spot Weld Drill Bits are designed to effectively cut auto panel spot welds. Made of Cobalt Steel, the high red hardness permits speeds 30% greater than high speed steel spot weld drills. Cobalt Steel is substantially more abrasion resistant, resulting in a very long lasting cutting edge. KnKut Spot Weld Drill Bits have a spur point, designed to cut through the weld on one panel while leaving only a slight penetration into the second panel. The modified point is chip resistant.