"The amount of crude steel used will obviously decrease," Kakigi told a press conference on Wednesday, calling 'Gigacasting' "a very big problem".
As aluminium is less strong compared to steel, iron might be needed in the most vulnerable EV parts to increase safety, he said. JFE Holdings may consider investing into coking coal essential for steelmaking, Kakigi added, expecting demand to remain solid for such assets in the next couple of decades.
In May, JFE Holdings said it expected to post a 17% increase in the current fiscal year's net profit to 190 billion yen on stronger steel demand thanks to a recovery in the auto sector.Our Standards:
Source: News Formal (newsformal.com)
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