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Stock impact report

Posco completes EV drive motor plant in Poland [Yahoo! Finance]

POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX) 
Company Research Source: Yahoo! Finance
completed the construction of its new electric vehicle (EV) drive motor core plant in Brzeg, in Poland's Opole Province, as part of the company's plans to establish a strong presence in the European EV supply chain. The opening ceremony was attended by Posco International's CEO, Lee Kye-In; the Opole Governor, Monika Jurek; and the South Korean Ambassador to Poland, Tae Jun-Yeol. The EUR 57 million facility, with an output capacity of 1.2 million motor cores per year, will begin trial production in October, with full commercial production scheduled for December this year. Lee Kye-In said in a statement: “The Poland drive motor core plant is a key hub for preemptively securing the European EV market. Posco Group will lead the future mobility market with its integrated group-wide capabilities such as EV-spec steel, battery materials, and components.” Together with similar plants in Asia and North America, Posco is targeting a 10% share of global EV drive motor core sales by 2030. Show less Read more
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