Korean company to work with YSU on electric vehicle technologies
Through the efforts of the Youngstown/Warren Regional Chamber, Youngstown State University’s Research Foundation signed a Memorandum of Understanding Friday with Power Plaza Co., Ltd, of Seoul, South Korea, to foster electric vehicle technologies research in Northeast Ohio.
This is the university research foundation’s first MOU with an international company.
The signing took place at 11 a.m. Friday at The Gallery at YSU’s Kilcawley Center. Power Plaza designs and manufacturers components in the power conversion and power supply business. Its core product lines are used in many industrial applications,
from utilities and telecommunications to the automotive sector.
The company is making efforts to be a supply chain leader in advanced electric vehicle technologies implementation, including tentative plans to launch its own electric vehicle line initially in the Asian market in the next 24 months.
The company’s website is www.powerplaza.co.kr.
The MOU will allow Power Plaza to work with YSU’s STEM College and its electrical engineering department. Final research collaboration details will be worked out in the next several months with a tentative start date of January 2013.
Power Plaza would station an engineer for research work here and would also have YSU STEM interns work in the company’s South Korean research lab.