• EV Tech Insider
  • Posts
  • POSCO gets order from Hyundai for over 1 million motor cores, expanding plants worldwide

POSCO gets order from Hyundai for over 1 million motor cores, expanding plants worldwide

March 21, 2024

POSCO INTERNATIONAL has announced an order from Hyundai for over a million drive motor cores for Hyundai-Kia’s Seltos class EVs, produced in Europe from 2025 to 2034.

POSC also announced it will expand its production of traction motor cores by constructing new plants in Poland and Mexico, contributing to the company’s goal of producing and selling over 7 million units annually by 2030.

The new plant in Poland will be located in Brzeg, southwestern Poland, adjacent to the production bases of global automakers in Europe. The plant, which will be constructed on a 100,000 ㎡ plot, is set to start construction in June of this year, with completion expected by May 2025, aiming for 1.2 million traction motor cores annually by 2030.

The construction of the Mexican plant is scheduled to begin in May this year and is expected to be completed by March next year, aiming for 2.5 million units annually by 2030. The company aims to achieve a 10% global share by 2030 by establishing a production and sales system to produce more than 7 million traction motor cores annually.