POSCO INTERNATIONAL, under the leadership of CEO Lee Kye-In, is making significant strides in expanding its presence in the global electric vehicle market. Following its successful entry into the North American market last year, the company has now set its sights on Europe with the groundbreaking of a new traction motor core plant in Brzeg, Poland.
The groundbreaking ceremony, held on June 11th, 2024, marked the beginning of a new chapter for POSCO INTERNATIONAL's green industry business. The event was attended by notable figures including Opole Marshal Andrzej Bula, Brzeg Mayor Violetta Jaskolska-Palus, Korean Ambassador to Poland Lim Hoon-Min, and POSCO INTERNATIONAL Green Industry Business Head Lee Young-Woo, underscoring the importance of this project for both the company and the region.
The new facility, named PI-PEM, Posco International Poland e-Mobility, will be constructed on a sprawling 100,000m² site. With completion scheduled for mid-2025, the plant is expected to commence full-scale operations in the latter half of the same year. The initial focus will be on producing 1.03 million traction motor cores for Hyundai and Kia's locally produced EVs in Europe, demonstrating POSCO INTERNATIONAL's commitment to supporting its key automotive partners in the region.
Looking ahead, the company has ambitious plans for the Polish plant. By 2030, POSCO INTERNATIONAL aims to expand its production capacity to 1.2 million traction motor cores annually at this facility alone. This expansion is part of a broader strategy to target major European EV manufacturers and solidify the company's position in the rapidly growing European green car market.
The establishment of the Polish plant is a crucial piece in POSCO INTERNATIONAL's global production cluster for traction motor cores. This network now spans across key economic regions, including East Asia (Pohang and Cheonan in Korea), Southwest Asia (India), North America (Mexico), and Europe (Poland). By strategically positioning its production bases, the company has effectively mitigated the risks associated with tariff barriers and increasing protectionism, ensuring a smooth supply chain for its global customers.
NYSE: PKX
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