POSCO International (POSCO Inter) will supply driving motor cores, a key component, to electric vehicles produced by Hyundai Motor and Kia in Europe. Following the United States, the company plans to expand its eco-friendly vehicle business by continuing collaboration with Hyundai Motor Group in Europe. POSCO Inter is also accelerating the establishment of new global factories in Poland, Mexico, and other locations, aiming to establish an annual production system of 7 million driving motor cores by 2030.
On the 18th, POSCO Inter announced that it will supply 1.03 million driving motor cores to small electric sport utility vehicles (SUVs) produced locally by Hyundai Motor and Kia in Europe. POSCO Inter’s driving motor cores will be supplied to Hyundai Motor and Kia’s Turkey plant with 550,000 units and to the Slovakia plant with 480,000 units, routed through Hyundai Mobis’s electrification plant in Slovakia.
With this, POSCO Inter has signed supply contracts for a total of 11.87 million driving motor cores with Hyundai Motor and Kia over the past year. The driving motor core is a key component of the driving motor, which acts as the heart of electric vehicles.
This order has also given momentum to POSCO Inter’s plan to build a factory in Poland. The factory is planned to be located in Brzeg, near the southwestern border of Poland. It is advantageously situated close to production bases of global automakers in Europe such as Germany, the Czech Republic, Slovakia, and Hungary, facilitating procurement.
POSCO Inter plans to start construction of the Poland factory in the first half of this year and aims to complete it by the first half of 2025. Once completed, POSCO Inter will have the capacity to produce 1.2 million driving motor cores annually in Europe by 2030.
Previously, POSCO Inter established a new factory in Suzhou, China, with an annual production capacity of 900,000 units at the end of last year. In October last year, it completed the first driving motor core factory in Mexico and is considering starting construction of a second factory in Mexico in the first half of this year. With the operation of the Poland factory as well, POSCO Inter will establish a global production system capable of producing more than 7 million driving motor cores annually by 2030. The company aims to achieve a global market share of over 10% through this.
A POSCO Inter official said, "It is meaningful that Hyundai Motor Group, a leading eco-friendly vehicle company, is continuing collaboration with POSCO Inter in Europe following the United States," adding, "Through cooperation between companies representing the Republic of Korea, we will lead the global eco-friendly mobility market."
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