South Korean POSCO Holdings said it has completed a Giga Steel refinery in east China to meet the future needs of the Chinese electric vehicle market.
The plant, located in China's Suzhou processing hub, is set to anticipate the expanding market for Giga Steel used in green electric vehicles (EVs), according to POSCO Holdings.
Giga Steel, a state-of-the-art high-strength steel product, can withstand over 100 kilograms of force per square millimeter.
At the moment, 6% of the processing center's sales are accounted for by Giga Steel. By 2027, Posco aims to increase Giga Steel sales to more than 12% of the center's total sales.
POSCO GIGA STEEL is unique because it combines strength and formability. POSCO GIGA STEEL has more than three times the strength of aluminum and is moldable enough to be molded into complex automotive parts. Today it is the most ideal solution for automakers.
South Korean POSCO builds steel plant for Chinese electric vehicle market
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Azovpromstal® 29 May 2023 г. 11:11 |
