Posco International Opens Poland EV Motor Core Plant, Targets 10% Global Market Share by 2030
Posco International has opened a new electric vehicle motor core plant in Poland, marking a significant step in its expansion strategy. The plant, inaugurated with an investment of 94.1 billion won ($67.1 million), spans 100,000 square meters and is set to commence full-scale mass production in December with an annual capacity of 1.2 million units.
The Poland plant is a crucial addition to Posco International's 'three-continent production belt' strategy, aiming to achieve a 10 percent global market share in motor cores by 2030. CEO Lee Kye-in has stated that this new facility serves as a strategic base for leading the growing European EV news, ahead of the EU's 2035 ban on new internal combustion engine cars.
The company forecasts robust growth in its motor core business, with sales projected to rise from 450 billion won in 2025 to 1.5 trillion won by 2030. By 2030, Posco International's combined annual production capacity is expected to reach 7.5 million units. As the main supplier of electric motor cores for the European EV market, a unit of the POSCO Group, POSCO Specialty Steel, will play a pivotal role in this growth.
The new Poland plant is poised to become a key production hub, catering to the increasing European demand for electric vehicles. With its significant investment and ambitious production targets, Posco International is well-positioned to capitalize on the burgeoning EV news and solidify its global market share in motor cores.
