POSCO International Corp., the energy and trading unit of South Korean steel giant POSCO, has said that it will build new traction motor core plants in Poland and Mexico to expand its presence in the global vehicle market.

The company approved the construction plans at its board meeting earlier this month.

The company will build a motor core manufacturing plant on a 100,000 square-metre plot of land in the southwestern city of Brzeg, close to electric vehicle production bases for major automakers in Germany, the Czech Republic, Slovakia and Hungary.

POSCO International will break ground on the factory in June with a plan to complete construction by May 2025. The plant will have an annual production capacity of 1.2Mt by 2030, it said.

Motor cores produced at the plant will also be supplied to Korea’s top two automakers, Hyundai Motor Co. and Kia Corp. for their EVs to be sold in Europe.

Source: The Korea Economic Daily