POSCO International (earlier post) has received an order for 1.03 million drive motor cores to be mounted on Hyundai-Kia Motors’ electric vehicle (Seltos class) to be produced locally for the first time in Europe from 2025 to 2034.
550,000 units of drive motor core will be supplied to Hyundai Kia Motors’ plant in Turkey and 480,000 units to the Slovakia plant respectively, via the Hyundai Mobis Slovakia electrification plant.
Including this latest order, POSCO International, along with its subsidiary POSCO Mobility Solutions, has signed contracts over the past 15 months to supply a total of 11.87 million drive motor cores to Hyundai and Kia Motors.
The new order adds momentum to POSCO’s plans to build a local production plant in Poland. POSCO International established an investment corporation for factory construction in Poland in June last year and has been pursuing drive motor core business in Europe.
The Polish production plant, which will become the European bridgehead for POSCO International’s drive motor core business, is scheduled to be built in the city of Brzeg. Located near the southwestern border of Poland, it is considered an advantageous location for local procurement as it is adjacent to the production bases of global automakers in Europe such as Germany, the Czech Republic, Slovakia, and Hungary.
The new factory is scheduled to begin construction in the first half of this year and be completed in the first half of 2025. If the factory is successfully constructed, POSCO International will have a system capable of producing and supplying 1.2 million drive motor cores per year in Europe by 2030.
POSCO International is steadily building a global production network to remove the risk of trade barriers in the EV market and to respond proactively to the local procurement demands of car manufacturers.
A new factory with an annual production capacity of 900,000 units was completed in Suzhou, China at the end of 2023. Following the completion of the first drive motor core factory in Mexico in October 2023, the company is also considering starting construction of a second factory in the first half of this year.
Once the Polish plant is fully operational, POSCO International will have a global production system in Korea (Pohang, Cheonan), Mexico, Poland, China, and India by 2030, completing a production and sales system for more than 7 million drive motor cores per year. The company’s strategy is to secure more than 10% of global market share.
Source from Green Car Congress
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