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[Alpha Biz=(Chicago) Reporter Kim Jisun] POSCO International will supply electric vehicle parts worth KRW 882.5 billion to Hyundai Motor Group.
POSCO International announced on the 14th that it has signed a supply contract with Hyundai Motor Group for 3.53 million units of DriveMoterCore. The amount is expected to reach up to 882.5 billion won. Drive Motorcore is used to produce driving motors, which are key components of eco-friendly vehicles such as electric vehicles.
Under the deal, POSCO International will supply 1.09 million front-wheel-driven motor core units and 1.63 million rear-wheel-driven motor core units to Hyundai Motor Group's new North American plant for eight years from 2026. Also, from 2026 to 2036, Hyundai Motor Group will supply 810,000 rear-wheel driven motor core electric vehicles for domestic production.
As a result, the cumulative amount of Drive Motor Core, which the two companies have signed since November last year, totaled 10.38 million units, exceeding 10 million units. It will be used in various models such as next-generation flagship electric vehicles, hybrid SUVs, and semi-medium-sized electric vehicle SUVs.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
