Seoul
POSCO International Corp., a South Korean trading company along with a local auto parts manufacturer, Erae Automotive Systems Co., has received an order to supply electronic vehicle components to a North American startup.
The company is going to supply $125 million worth of half shafts which will be used for about 340,000 vehicles. In August 2020, the company won its first order from the North American startup for about 20,000 EVs. In a battery electric vehicle, a half shaft is a core component that acts as a driving shaft. Here, the driving shaft transmitting the power of the driving motor to both wheels.
POSCO International is trying its best to gain a larger share in the future auto parts market, henceforth; it is expanding its business related to driving motor cores.
Erae Automotive is a specialist that produces auto parts related to braking, steering, and driving. It not only supplies its arts to domestic carmakers but to international carmakers also located in the USA and Germany.
Source – The Korea Bizwire
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