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Zhejiang JFE Shoji Steel Products Co Ltd inaugurated its new motor core project in the Pinghu Economic and Technological Development Zone in Jiaxing on July 18, with an annual production capacity of 20,400 metric tons.

This milestone marks the first Sino-Japanese joint venture in Pinghu and the first Fortune 500 company to invest in Jiaxing. Since its establishment in December 1994, JEF Shoji has increased its capital nine times, with total investment growing twenty-fold. The new project is the company's fourth factory in the Pinghu Economic and Technological Development Zone.

JEF Shoji started with steel coil processing and has now evolved into a motor core manufacturer. This new factory is equipped with advanced technology and equipment, marking a new chapter in its development.

China's vast market represents a promising future for investors. JFE Shoji's journey in Jiaxing exemplifies this potential. Reflecting on the past 30 years, Tatsuji Maeda, JEF Shoji's general manager, expressed gratitude for the support and opportunities offered by Pinghu.

The new factory, covering 27.8 mu (1.85 hectares), will produce motor cores for new energy vehicles, supporting local enterprises and stabilizing the supply chain.

With over 100 Japanese enterprises now in the area, Pinghu has become a hub for foreign investment, fostering a promising future for JEF Shoji and its partners.