TOKYO -- JFE Shoji Trade, a subsidiary of Japanese steelmaker JFE Holdings, is hastening a shift to China and other Asian markets where electric vehicle sales are expected to flourish.
The shift is already in full swing and has the key trading house of JFE Holdings in talks to buy a stake in a Chinese motor component maker. If a deal materializes, the Japanese company can locally process electrical steel sheet -- a key material for the fledgling EV industry and one Japanese steel-makers excel at making -- and expand sales to Chinese manufacturers.
