POSCO International has successfully secured contracts totaling 400 billion won, affirming its presence in the global market for eco-friendly car parts. The company clinched a substantial order worth 300 billion won for reducers, crucial components of electric vehicle drive systems, from a major U.S. automaker. The agreement outlines a staged supply of reducers from the upcoming year until 2032, with plans for additional orders, marking a significant step for POSCO International in the electric vehicle market.
Furthermore, the company confirmed a 100 billion won order for hydrogen vehicle parts from HYVIA, a French automaker and joint venture between Renault and Plug Power. This marks POSCO International’s first direct contract with a global automaker for hydrogen vehicle parts. The supply of hydrogen vehicle power conversion devices is slated to commence in 2025. POSCO International expresses a commitment to continued growth as a leading global eco-friendly car parts provider and envisions exploring various business models in collaboration with domestic small and medium-sized enterprises, including the potential establishment of a local factory in North America if deemed necessary.
