Magnetics Business & Technology - November/December 2024 - 11

FEATURE ARTICLE
speech as president, marking the global expansion of traction motor
cores as his first move after taking office. At a board of directors meeting
held in February, the company approved the construction of a new
plant in Poland and a second plant in Mexico, completing the blueprint
for its Vision 2030 expansions.
" The company's future vision is to become a platform company
that creates synergies across different businesses and creates
new businesses, " said Lee Kye-In. The company is consistently
developing a global production network to mitigate trade barriers in
the electric vehicle market and proactively meet the local procurement
requirements of automakers.
For its traction motor core business, Posco aims to establish a production
system that can handle 10 million units by 2035 by investing KRW
680 billion ($508 million) until 2035 in line with the global expansion of
electric cars.
The plan calls for Posco to establish a global production cluster for
traction motor cores in five countries, including Korea (Pohang and
Cheonan), Mexico, Poland, China and India.
The key to the successful expansion of its business, notes the company,
lies in the synergy between the technology and infrastructure
provided by its subsidiary, Posco Mobility Solution, in the mobility
sector, and Posco's high-quality hyper non-oriented electrical steel
(Hyper NO), which is a key material used in motor cores. The steel
significantly reduces energy loss compared to conventional electrical
steel. Established in 2020 as an independent subsidiary, Posco
Mobility Solution has become Korea's top manufacturer of traction
motor cores. The patented stacking method developed by its inhouse
mold research center is considered exceptional for maximizing
the efficiency and performance of motors.
Precision Instruments for Professionals
New plant in Poland will be headquarters of Posco's
traction motor core business in Europe
The Polish production plant, which will be the headquarters
of POSCO INTERNATIONAL's traction motor
core business in Europe, will be located in Brzeg
in southwestern Poland. It is located adjacent to the
production bases of global automakers in Europe,
namely in Germany, the Czech Republic, Slovakia,
and Hungary, making it a prime spot for local procurement.
The
new plant, sited on a 100,000 square meter plot,
is due to start construction in June of this year, with
completion expected by May 2025. The plant will expand
its production scale according to the production
plan to produce 1.2 million traction motor cores annually
by 2030. Starting with the production of 1.03
million traction motor cores ordered by Hyundai in
January, the company plans to stabilize the plant's
operations by pursuing orders from major European
customers.
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November/December 2024 * Magnetics Business & Technology 11
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Magnetics Business & Technology - November/December 2024

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