POSCO International signs KRW 882.5B contract to supply EV drive motor cores to Hyundai Motor Group

POSCO International Corp. signed a contract with Hyundai Motor Group to supply 3.53 million units of drive motor cores worth up to KRW 882.5 billion ($664.49 million). The supply includes 1.09 million front-wheel and 1.63 million rear-wheel drive motor cores for Hyundai's new North American plant from 2026 for eight years, and 810,000 rear-wheel drive motor cores for domestic EV production from 2026 to 2036.

“POSCO International announced it signed a contract with Hyundai Motor Group to supply an additional 3.53 million units of drive motor cores with an expected contract value of up to 882.5 billion won.”pulse.mk.co.kr

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• pulse.mk.co.krPOSCO International to supply EV parts worth $664 mn to Hyundai Motor Group - 매일경제 영문뉴스 펄스(Pulse)Sep 15, 2023

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