Shanghai-based Chinese steel giant Baosteel has announced that its SVh40C grade hot rolled high-strength steel for application in crankshafts of automobiles has been approved by Hubei Province-based carmaker Dongfeng-Nissan Motor Co., a joint venture of China's Dongfeng Motor Co. and Japanese car producer Nissan.
Dongfeng-Nissan has an annual output capacity of one million automobiles. In order to lower costs, in the second half of 2011 Dongfeng-Nİssan began to approve Chinese production hot rolled high-strength steel for its car production.