Megalith
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Toyota has developed a new magnet for electric motors, which allows for a 50-percent reduction in rare earth neodymium and the elimination of terbium and dysprosium. These will be replaced by lanthanum and cerium, which are many times cheaper.
Rare earths along with metals like lithium and cobalt are seeing soaring demand from a growing electric vehicle market, propelled mainly by increasingly stringent emissions restrictions worldwide. China, which is home to the world’s biggest auto market and the leader in electric vehicle sales, supplies more than 80 percent of rare earths globally.
Rare earths along with metals like lithium and cobalt are seeing soaring demand from a growing electric vehicle market, propelled mainly by increasingly stringent emissions restrictions worldwide. China, which is home to the world’s biggest auto market and the leader in electric vehicle sales, supplies more than 80 percent of rare earths globally.