Electrical steel sheets for EVs, which JFE is increasing its production capacity for. (Photo courtesy of JFE)
SHUHEI OCHIAI, Nikkei staff writer |
TOKYO — Japan’s second largest steelmaker JFE Steel will step up production of electrical steel sheets for motors, the company announced Monday, amid rising global demand for the crucial electric vehicle (EV) part.
The company will invest about 50 billion yen ($381 million) to reinforce existing production facilities at its steel works in western Japan’s Okayama Prefecture. Expanded production is scheduled to begin in fiscal 2026.
