November 22, 2024

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Samples of Posco International's motor cores (Posco International)

Posco International said Thursday that it will supply 1.03 million motor cores for Hyundai Motor Group electric vehicles produced in Europe.

The parts are to be supplied to Hyundai Mobis’ EV factory in Slovakia from 2025 to 2034. Of the total, 550,000 units are to be sent to Hyundai Motor’s Turkey plant, while 480,000 units will go to Kia’s Slovakia plant.

The company said the new deal gives a big boost to its upcoming production site in Poland.

In June, Posco International established an investment unit in Brzezce, Poland, for the new production plant. The new plant, adjacent to the production bases of global automotive companies in Europe, is scheduled to begin construction in the first half of this year and is expected to be completed by 2025.

Once the Polish plant is fully operational, Posco International will secure an extensive global production network in Korea, Mexico, Poland, China and India, with combined production capacity of more than 7 million motor cores per year.

Posco International has been striving to build a global production network to resolve trade barriers in the overseas market and to respond to the needs of local automakers, the company said.

“This order is significant as it indicates Hyundai Motor Group, the leading automaker in eco-friendly vehicles, will continue to collaborate with Posco International in Europe," said an official from Posco International.

“We will continue to make efforts to lead the global eco-friendly mobility market through collaboration with Korean companies in North America and Europe.”

By Hwang Joo-young (flylikekite@heraldcorp.com)