POSCO International Secures First Electric Vehicle Parts Order from Vietnam's VinFast

Supply of 'Half Shaft' Serving as Electric Vehicle Drive Axle... Approximately 100,000 Units

POSCO International supplies electric vehicle parts 'half shaft' to VinFast in Vietnam (Photo by POSCO International)

[Asia Economy Reporter Kim Ji-hee] POSCO International announced on the 13th that it has secured an order for electric vehicle parts from Vietnam's VinFast in collaboration with the domestic mid-sized auto parts company Irae AMS. The supply volume corresponds to parts for approximately 100,000 electric vehicles produced by VinFast.

The half shaft supplied to VinFast is a component that functions as the drive shaft in battery electric vehicles (BEVs). The drive shaft transmits the engine's driving force through the transmission to both tires. Product supply is planned to begin next year after detailed adjustments and testing.

This is the first time POSCO International is supplying auto parts to VinFast. VinFast is Vietnam's first complete car manufacturer, invested in by Vin Group, the largest private enterprise in Vietnam. As POSCO International supplies parts for VinFast's first electric vehicle, this order is expected to serve as a foundation for future business expansion.

Irae AMS is a parts manufacturer specializing in vehicle components such as drive, braking, and steering parts, and has been collaborating with POSCO International since 2011. Currently, most of the drive parts exported to North American Fiat Chrysler are supplied through POSCO International. The partnership is also expanding with orders for electric vehicle parts from a U.S. electric vehicle startup.

Additionally, POSCO International is targeting the European eco-friendly vehicle market through cooperation with group companies. Using POSCO International's network, motor cores?a key component of eco-friendly vehicle drive motors produced by POSCO SPS?are being supplied to local European parts manufacturers. From next year, both customers and vehicle models will be expanded. In particular, applying POSCO's low iron loss non-oriented electrical steel (Hyper NO) as the material for the products is expected to create synergy effects among group companies.

A POSCO International official stated, “We are actively targeting the rapidly growing electric vehicle market, including recently establishing an eco-friendly vehicle group. We will continue to increase the supply of parts used in eco-friendly vehicles by cooperating with domestic mid-sized and small but strong companies.”

This content was produced with the assistance of AI translation services.