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PKX Teams Up With Hyundai & Others to Develop Advanced EV Motor Steel
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Key Takeaways
POSCO joined Hyundai Motor and eight other partners to launch EV electrical steel R&D.
PKX targets 6.5% silicon steel to cut energy loss and boost EV motor efficiency.
PKX signed a pact for integrated research to speed commercialization and EV validation.
POSCO Holdings Inc. (PKX - Free Report) is expanding its push into next-generation electric vehicle (EV) materials through a new industry-wide collaboration aimed at developing high-efficiency electrical steel for EV drive motors. It has partnered with Hyundai Motor Company and eight other industry, academic and research organizations to launch a national R&D project focused on advanced electrical steel technology.
The consortium's flagship project is titled “Development of 6.5% Silicon-Content Wide Electrical Steel Sheet and EV Efficiency-Enhancing Core and Drive Motor Manufacturing Technologies.” A kickoff meeting was held on June 11 at the Research Institute of Industrial Science & Technology in Pohang, South Korea, marking the official start of the initiative.
POSCO is leading the initiative with Hyundai Motor, SL Corporation, Polepair Electric, RIST, the Korea Institute of Industrial Technology (KITECH), the Korea Automotive Technology Institute (KATECH), the University of Ulsan, Pukyong National University and the Korea Metal Materials Research Association (KOMERA), with support from South Korea's Ministry of Trade, Industry and Energy.
The project aims to develop 6.5% silicon-content electrical steel sheets for high-efficiency EV motors. The material helps reduce energy loss during high-speed operation, improving efficiency and potentially extending driving range.
Following the launch meeting, the 10 organizations signed an agreement to establish an integrated research system spanning material development, motor production and EV validation, aiming to accelerate commercialization and demonstrate real-world performance.
Per POSCO, the collaboration represents an important milestone that brings together the steel and future mobility industries in the electrification era. The company will focus on developing high-value-added materials and component technologies that improve energy efficiency while maximizing collaboration among industry.
POSCO aims to strengthen South Korea's steel and automotive supply chains and secure a stronger position in the rapidly growing global EV market.
Shares of PKX have gained 36.7% in the past year against the industry’s 3.6% decline.
The Zacks Consensus Estimate for ITT’s current-year earnings is pegged at $7.9 per share, indicating a 17.6% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in all of the trailing four quarters, with the average earnings surprise being 5.8%.
The Zacks Consensus Estimate for MARUY’s current-year earnings is pegged at $23.86 per share, indicating a 8.8% year-over-year decrease. Shares of MARUY have gained 56.8% over the past year.
The Zacks Consensus Estimate for GFF’s current fiscal-year earnings is pegged at $5.17 per share. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average earnings surprise being 3.3%.
View the Zacks #1 Rank List
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PKX Teams Up With Hyundai & Others to Develop Advanced EV Motor Steel
Key Takeaways
POSCO Holdings Inc. (PKX - Free Report) is expanding its push into next-generation electric vehicle (EV) materials through a new industry-wide collaboration aimed at developing high-efficiency electrical steel for EV drive motors. It has partnered with Hyundai Motor Company and eight other industry, academic and research organizations to launch a national R&D project focused on advanced electrical steel technology.
The consortium's flagship project is titled “Development of 6.5% Silicon-Content Wide Electrical Steel Sheet and EV Efficiency-Enhancing Core and Drive Motor Manufacturing Technologies.” A kickoff meeting was held on June 11 at the Research Institute of Industrial Science & Technology in Pohang, South Korea, marking the official start of the initiative.
POSCO is leading the initiative with Hyundai Motor, SL Corporation, Polepair Electric, RIST, the Korea Institute of Industrial Technology (KITECH), the Korea Automotive Technology Institute (KATECH), the University of Ulsan, Pukyong National University and the Korea Metal Materials Research Association (KOMERA), with support from South Korea's Ministry of Trade, Industry and Energy.
The project aims to develop 6.5% silicon-content electrical steel sheets for high-efficiency EV motors. The material helps reduce energy loss during high-speed operation, improving efficiency and potentially extending driving range.
Following the launch meeting, the 10 organizations signed an agreement to establish an integrated research system spanning material development, motor production and EV validation, aiming to accelerate commercialization and demonstrate real-world performance.
Per POSCO, the collaboration represents an important milestone that brings together the steel and future mobility industries in the electrification era. The company will focus on developing high-value-added materials and component technologies that improve energy efficiency while maximizing collaboration among industry.
POSCO aims to strengthen South Korea's steel and automotive supply chains and secure a stronger position in the rapidly growing global EV market.
Shares of PKX have gained 36.7% in the past year against the industry’s 3.6% decline.
PKX Zacks Rank & Key Picks
PKX currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the Conglomerates space include ITT Inc. (ITT - Free Report) , Marubeni Corporation (MARUY - Free Report) and Griffon Corporation (GFF - Free Report) . ITT, MARUY and GFF carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for ITT’s current-year earnings is pegged at $7.9 per share, indicating a 17.6% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in all of the trailing four quarters, with the average earnings surprise being 5.8%.
The Zacks Consensus Estimate for MARUY’s current-year earnings is pegged at $23.86 per share, indicating a 8.8% year-over-year decrease. Shares of MARUY have gained 56.8% over the past year.
The Zacks Consensus Estimate for GFF’s current fiscal-year earnings is pegged at $5.17 per share. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average earnings surprise being 3.3%.