Oct 03, 2023POSCO Int’l to build permanent magnet factory in US with Star Group
They are expected to supply permanent magnets from the factory to the top three US automakers -- General Motors Co., Ford Motor Co. and Stellantis NV -- and plan to secure orders from Hyundai Motor Co. and Kia Corp.'s US plants, according to sources.The upcoming investment will enable S.Korean steel giant POSCO Holdings to foray deeper into the EV sector
Their US permanent magnet-manufacturing JV is expected to allow POSCO Holdings to foray deeper into the EV sector, one of the seven mainstay growth engines the Korean steel giant has been actively nurturing.
https://www.kedglobal.com/electric-vehicles/newsView/ked202310030002
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