Posco International has begun construction of an EV components plant in Ramos Arizpe, northeastern Mexico, and says this will be its first factory in North America. The subsidiary of the South Korean steel company expects to complete construction early next year and will focus on motor cores.
Posco International plans to inject about 160 billion won ($123.2 million) by 2030 to produce 1.5 million motor cores in Mexico annually. By 2025, targets include 650,000 units.
“Mexico will become our basecamp to expand our presence in the North American EV parts market,” said Posco International CEO Joo Si-bo at the groundbreaking ceremony. “And we will become a leading manufacturer of motor cores in the auto industry striving to go green,” quotes the Korea Herald.
Driving motor cores comprise a stator and a rotor and are key components to generate electricity in EVs and are key to determining their performance, Posco said, adding it had received orders worth US$460m from global automakers without disclosing names.
Posco, and its subsidiary Posco Chemical, had invested heavily in the global EV supply chain in the last few years, with a number of plants for EV battery components and materials currently under construction worldwide. They also hold deals with companies such as General Motors, ProLogium or Morrow Batteries.
Posco International itself completed the construction of a motor core plant in Pohang, South Korea last December.
Globally, the company targets a capacity of seven million motor cores by 2030, up from 1.2 million in 2021.
These appear to be developed by the Posco Mobility Solution division. It focuses on developing embossed automatic additive cores, loose welding cores and Embo-free (EMFree) cores. Further aims include reducing the vibration and noise of rotors through use of Skew/Index additive cores and using Self-Bonding cores, so the website.
While Posco has complete cores, it says it also offers components in modularized forms including magnet moulding and shaft assembly to better meet diverse customer needs.
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