POSCO International focuses on fostering the driving motor core (photo) business, which is called the’heart of electric vehicles’. It has planned to become the world’s best company by accounting for 20% of the global market share in 2025. This is in line with the reinforcement of new business related to eco-friendly vehicles promoted by POSCO Chairman Jeong-woo Choi.
POSCO International announced on the 1st that it has set a goal to supply 4 million drive motor cores by 2025 and increase its global market share to 20%. The motor core is a key component for motors such as electric vehicles and industrial facilities. It serves as the heart of the drive motor, and demand is increasing rapidly with the growth of the electric vehicle market.
The drive motor core produced and supplied by POSCO International has been applied to the world’s leading automakers, including Hyundai Motor Company and Kia. It is installed in most eco-friendly cars produced in Korea. It has also won orders for about 10 million electric vehicles by 2025. The amount is about 2.5 trillion won.
POSCO SPS, a wholly-owned subsidiary of POSCO International, began supplying motor cores to Hyundai Motor Company and Kia in 2009. Recently, it has developed an innovative technology’EM Free’ that can minimize electrical loss and improve fuel economy. As the only domestic motor core manufacturer that owns a mold research center, it is equipped with a customer-friendly system that provides services from mold design to core manufacturing.
POSCO International plans to expand domestic production lines to establish a production system for 2 million units a year by next year, and actively increase overseas orders through its own 80 global networks. POSCO Group is also considering preemptive investment by expanding production facilities and professional manpower in China and India production bases and establishing production subsidiaries in Europe and America. Through this, the goal is to establish a supply system of 4 million units by 2025, secure 20% of the global market share, and achieve annual sales of 750 billion won.
Chairman Choi is promoting’innovation and growth’ as a hot topic this year, and is strengthening business related to eco-friendly cars at the group level. POSCO is developing steel materials for electric and hydrogen vehicles, and POSCO Chemical is expanding the business of cathode materials and cathode materials, which are core materials for secondary batteries. “We will play a leading role in the group’s eco-friendly car business by concentrating our global network and business development capabilities,” said CEO Jujibo of POSCO International.
Reporter Mansoo Choi [email protected]
Ⓒ Hankyung.com prohibits unauthorized reproduction and redistribution