NOVELTY - Corrosion resistant electrically conductive component comprises an alloy substrate comprising chromium (Cr) (10 - 30 wt.%), vanadium (V) (0.5 - 7 wt.%), and base metal containing iron (Fe); and a continuous surface layer free of base metal comprising chromium nitride and/or vanadium nitride. The component further comprises a metal oxide layer, selected from chromium oxide and/or vanadium oxide, disposed between the alloy substrate and the continuous surface layer. The alloy substrate further comprises element selected from nickel, manganese, carbon or nitrogen.    USE - As a corrosion resistant electrically conductive component used as a bipolar plate in a proton exchange membrane (PEM) fuel cells useful in applications such as automotive applications and on-site power generation systems.    ADVANTAGE - Transition metal nitrides offer an attractive combination of high electrical conductivity and good corrosion resistance. The method provides a continuous protective nitride surface layer free of iron on ferritic-based alloys by two-step nitridization sequence. The bipolar plate allows an easily and economically manufactured PEM fuel cell or other electrochemical-based power generator by having a continuous corrosion resistant nitrided surface formed on a stainless steel alloy that may contain little or no nickel. The components can be formed such that identified goals of corrosion resistance, interfacial contact resistance, electrical conductivity, weight, flexibility, flexural strength, and cost can be achieved for use in automotive applications.    DETAILED DESCRIPTION - An INDEPENDENT CLAIM is included for preparing a corrosion resistant electrically conductive component involving exposing the alloy to a oxygen containing gas at an elevated temperature forming a metal oxide layer; and subsequently exposing the alloy to an oxygen free nitrogen containing gas at an elevated temperature converting some or all of the metal oxide layer to a continuous surface layer free of base metal.