POSCO INTERNATIONAL announced the completion of its motor core manufacturing plant for electric vehicles (EVs), named PI-MEM (Posco International Mexico E-Mobility), located in Ramos Arizpe, Coahuila, Mexico, on Oct. 17 (local time).
The ceremony was attended by notable figures including Miguel Riquelme, the governor of Coahuila; Heo Tae-wan, Korea’s ambassador to Mexico; Jeong Tak, vice chairman of POSCO INTERNATIONAL; and No Min-yong, president of POSCO Mobility Solutions.
Considering the trade barriers of the electric vehicle market and enhancing logistical competitiveness, POSCO INTERNATIONAL made an early decision to establish its production base in Northeast Mexico to target the North American market. They initiated the construction of the motor core factory in July 2022.
Built on a total land area of 63,925 m² (about 19,371 square meters), the first factory will operate 18 presses. Furthermore, construction for the second factory is slated to begin in the first half of next year. With the operation of the second factory, they aim to establish a production system that can manufacture up to 2.5 million units annually by 2030.
Motor cores produced in the Mexican factory are expected to be supplied to major automobile manufacturers in North America, including Mexico, for the manufacturing of electric and hybrid vehicle motors.
Jeong Tak, vice chairman of POSCO INTERNATIONAL, remarked, “It’s a significant moment for POSCO International as we take our first step in targeting the North American continent, the world’s largest automotive market.” He added, “Following the North American market, we will actively target the European and Asian markets and continue to grow as a top-tier eco-friendly vehicle component company globally.”