POSCO Inter, Additional Electric Vehicle Parts Order from Vietnam's VinFast

Half shaft, an electric vehicle part supplied by POSCO International to VinFast in Vietnam

[Photo by POSCO International]

[Asia Economy Reporter Ki-min Lee] Posco International announced on the 17th that it has received an order worth 30 billion KRW for electric vehicle halfshafts from VinFast, a Vietnamese complete car manufacturer, in collaboration with Irae AMS, a mid-sized domestic automotive parts company.

The halfshafts supplied by Posco International and Irae AMS amount to 90,000 units, which combined with the 100,000 units contracted with VinFast last October, total 190,000 units.

The halfshaft is a key electric vehicle component that functions as the drive shaft of a battery electric vehicle (BEV), transmitting the driving force from the drive motor through the reducer to both tires.

With this order, Posco International has strengthened its position in the electric vehicle parts market by leveraging its drive motor core production capabilities and global network-based electric vehicle parts trading capabilities. Posco International recently set a goal to establish a supply system for 4 million drive motor cores by 2025 and achieve a 20% global market share.

A Posco International official stated, "This electric vehicle parts order is significant as it continues the tangible results of the company's recently announced eco-friendly mobility growth strategy," adding, "We will continue to expand our eco-friendly mobility business by strengthening electric vehicle parts trading capabilities through cooperation with strong domestic parts companies."

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