Posco International to invest $519 million on scaling up EV parts business
Posco aims to allocate 44% of the fund to North America and about 20% to Europe
Posco International Corp. (Posco), the energy and trading unit of South Korea’s steel giant Posco Holdings Inc., plans to invest 680 billion South Korean won (about $519.1 million) on scaling up its electric vehicle component business, with an aim of riding on the surging growth of electric mobility, according to a news report published by Korea Economic Daily on Nov. 9.
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