POSCO Int'l to supply EV component to Vietnam's VinFast

[Viet]

POSCO International's halfshaft / Courtesy of POSCO

By Nam Hyun-woo


POSCO International said Tuesday it and domestic auto parts maker Erae AMS will supply electric vehicle (EV) components to Vietnamese carmaker VinFast.

According to the trading unit of POSCO, it will supply halfshafts for electric vehicles to VinFast starting next year. A halfshaft is a drive axle and POSCO International will ship the components for 100,000 EVs VinFast is seeking to manufacture. Erae AMS will produce the component.

VinFast is Vietnam's first mass-produce carmaker and a member company of Vingroup, which is the largest private conglomerate in the country. It is the first time for POSCO International to trade car components with VinFast.


POSCO International said the deal with VinFast has established the groundwork for the company's additional investments in the country.

Erae AMS is a midsize auto parts maker specialized in driving, braking and steering components. It has been in partnership with POSCO International since 2011, with its parts bound to Fiat-Chrysler in North America exported by POSCO International.

POSCO International said the deal also serves as a model case of mutual growth between large and midsize companies, as it teamed up with the carmaker to claim a sizeable order amid the global downturn in the automotive industry in the wake of COVID-19.

Along with the VinFast deal, POSCO International and its affiliates have been enhancing efforts to make forays into the European eco-friendly mobility market. POSCO SPS, which produces precision stainless steel materials, has been supplying motor cores to a number of top-tier European EV motor makers and plans to expand its client base next year.

POSCO SPS' motor core is made with steelmaker POSCO's Hyper NO electrical steel, which has various magnetic properties and is used to make the cores of motors, transformers and generators.

"POSCO International recently set up a separate working group for the eco-friendly vehicle business to strengthen its presence in the global EV market," a company official said. "The company will continue to strengthen its ties with domestic midsize enterprises to expand its supply of EV components."

POSCO Int'l to supply EV component to Vietnam's VinFast

POSCO International said Tuesday it and domestic auto parts maker Erae AMS will supply electric vehicle (EV) components to Vietnamese carmaker VinFast.

m.koreatimes.co.kr

 

[Viet]

Vinfast will buy batteries from LGChem. LGchem wants to build a battery factory in Indonesia?

@Indos
How about we buy battery while you buy cars from us. Win win.

 

[Indos]

Vinfast will buy batteries from LGChem. LGchem wants to build a battery factory in Indonesia?

@Indos
How about we buy battery while you buy cars from us. Win win.

View attachment 680232

Hyundai has a plan to build EV factory here and our state owned defense company, Pindad, also want to produce civilian version of their Maung car that later could have the electric version.

Dont forget bro, It will be hard for a completely build up (CBU) vehicle which target upper middle class like Vinfast to compete with Hyundai EV which likely to be produced in Indonesia. CBU car get huge import tax here and I believe the situation is also similar in other country.

Actually there is one family that has bough the car already.

 

[whatintarnation]

Hyundai has a plan to build EV factory here

I thought it was already under construction, like the video below suggests, or are you talking about another completely different factory altogether?

 

[Indos]

I thought it was already under construction, like the video below suggests, or are you talking about another completely different factory altogether?

That is for cars manufacturing using combustion engine, not for EV yet. The one who make the Youtube channel clearly dont do some deep research before making the video, or it is just an effort to get more viewer, although EV production is indeed being considered by Hyundai.

I will give some reasons to back my stance. First, it is impossible IMO to start building EV factory in Indonesia where the EV infrastructure in here is close to non existence and very few EV sales in Indonesia at present. Although it is also quite clear that making EV in Indonesia has already been in their long term planning. Realizing that plan will depend on several factors :

1. EV infrastructure like charging areas development in Indonesia big cities

2. EV sales in Indonesia (CBU)

3. Hyundai car sales performance from its Indonesian plant

4. Realization of Battery project from Indonesia state owned holding ( with possible cooperation with Korea and China battery manufacturer)

There are two report talking about Hyundai investment in Indonesia that I use to understand about their plan.

First Indonesian side report by Jakarta Globe saying :

"In addition, Hyundai will also build a training center and a research and development center for electric cars," Bahlil said in a statement.

Bahlil said Indonesia had asked Hyundai to maximize the use of domestic raw materials and collaborate with local businesses to make the electric vehicles in its Indonesian factory.

"Most of the materials for electric car batteries can come from Morowali. We also have many rubber and tire producers," Bahlil said.

Morowali is the main nickel-producing region in Southeast Sulawesi.

Indonesia has aired its intention to become a global production center for electric vehicles by leveraging its abundant nickel ore resources.

Nickel comprises up to 80 percent of the materials used in lithium-ion batteries that power modern electric vehicles from Tesla to Xiaomi scooters.

Hyundai plans to carry out its investment in two stages. In 2019-2021, the company will focus on investing in an internal combustion engine car manufacturing plant and will export at least 50 percent of its total production.

In the second stage, from 2022 to 2030, Hyundai will develop an electric car manufacturing plant, transmission plant, research and development center and training center. Hyundai aims to export 70 percent of its car production by this period.

The Hyundai plant is expected to start production in 2021, with a capacity of 70,000 to 250,000 units per year, including electric cars.

Hyundai said Indonesia's nickel resources played a major role in tilting its decision to invest in the local electric vehicle plant.

Hyundai Announces $1.55b Investment in Indonesian Electric Vehicle Plant

Hyundai said Indonesia's nickel resources played a major role in tilting its decision to invest in an electric vehicle plant here.

jakartaglobe.id

Second, report from respected international media like Reuters which says :

Hyundai Motor said it will invest about $1.55 billion in the Indonesia auto manufacturing plant from now until 2030, including product development and operation costs.

The facility, to be built in the city of Bekasi, east of Jakarta, will start production in late 2021, with an annual capacity of 150,000 vehicles and a plan to grow that to 250,000 vehicles a year, Hyundai said.

Hyundai plans to make small sport utility vehicles (SUVs) and multi-purpose vehicles (MPVs), while electric vehicles (EVs) tailored to Southeast Asian market are under consideration.

Hyundai said it is building the production facilities to avoid import tariffs ranging from 5% to 80% in the ASEAN region. The plant will cater to Indonesia, the region’s largest automobile market, and other countries belonging to the Association of Southeast Asian Nations (ASEAN), it said.

The plant will allow the automaker to secure future growth to help it “combat slowing demand in the global automotive market”, Hyundai said in its statement.

Hyundai Motor to invest $1.55 billion in first Indonesia car plant

South Korea's Hyundai Motor <005380.KS> said on Tuesday it has signed a preliminary deal to build a new factory in Indonesia, which would be its first car plant in Southeast Asia and a crack at Japanese rivals that dominate the market.

www.reuters.com

 

[whatintarnation]

A reply that's thorough and researched? You, sir, have earned my respect.

Regardless if it's an EV factory or not, with its completion, hopefully, it will benefit the local populous and economy.

 

[Viet]

Hyundai has a plan to build EV factory here and our state owned defense company, Pindad, also want to produce civilian version of their Maung car that later could have the electric version.

Dont forget bro, It will be hard for a completely build up (CBU) vehicle which target upper middle class like Vinfast to compete with Hyundai EV which likely to be produced in Indonesia. CBU car get huge import tax here and I believe the situation is also similar in other country.

View attachment 680251

Actually there is one family that has bough the car already.

View attachment 680253

Bro, importing cars among Asean countries is tax free. We import lots of cars from Indonesia. Now thing has changed. We export cars.