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Electric cars in China

JFE unit in talks to buy stake in Chinese EV component maker

Steel trader to supply key materials to Asia's fledgling industry

Manufacturing equipment is set up in rows inside a plant at JFE Shoji Trade's Zhejiang plant. The company is expanding its Asia operations to feed demand from local manufacturers.

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.

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