SEOUL -- POSCO broke ground Friday on a 1 trillion won ($800 million) production facility that will quadruple capacity for a key motor material, anticipating rapidly growing demand as the automotive industry goes electric.
Materials
South Korea's POSCO to build $800m plant for EV steel
Material for motor cores seen in high demand as electrification takes off
POSCO's new facility will quadruple production capacity for nonoriented electrical steel sheet. (Photo courtesy of the company)
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