South Korean steelmaker Pohang Iron and Steel Co. (POSCO) has announced that it has completed the construction of an integrated processing facility for giga steel, an ultra-high-strength steel used in electric vehicles, at its Chinese subsidiary POSCO-CSPC. Giga steel lightens the weight of vehicles and increases energy efficiency.
“We will provide the highest-quality products and services at CSPC and the other 12 integrated processing centers in China, aiming to leap forward as a leading eco-friendly company in the rapidly changing Chinese automotive market centered around environmentally-friendly vehicles,” Song Yong-sam, CEO of POSCO-CSPC, said.