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POSCO to Expand Electrical Steel Sheet Capacity
11/16/2021 - The South Korean steelmaker will reportedly invest 1 trillion won (US$850 million) by 2025 to significantly increase its capacity to produce electrical steel sheets for electric vehicle motors, according to Korea JoongAng Daily.
The new factory will, according to the news outlet, raise POSCO’s capacity to produce electrical steel to 400,000 metric tons annually by 2025. It currently stands at 100,000 metric tons.
“Through the investment in new facilities, POSCO will actively respond to changes in automobile trends and strengthen our global competitiveness,” the company said.
The location of the factory has not been revealed.
Korea JoongAng Daily has more here.
