Minmetals unit flags China rare earths restructuring reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Jul 22, 2021
LONDON – As tensions mount between China and the United States, automakers are trying to reduce their reliance on a key driver of the electric vehicle revolution permanent magnets, sometimes smaller than a pack of cards, that power electric engines.
Most are made of rare earth metals from China.
The metals in the magnets are actually abundant but can be dirty and difficult to produce. China has grown to dominate production, and with demand for the magnets on the rise for all forms of renewable energy, analysts say a genuine shortage may lie ahead.
Some auto firms have been looking to replace rare earths for years. Now manufacturers amounting to nearly half global sales say they are limiting their use, a Reuters analysis found.
By Syndicated Content
By Eric Onstad
LONDON (Reuters) – As tensions mount between China and the United States, automakers in the West are trying to reduce their reliance on a key driver of the electric vehicle revolution – permanent magnets, sometimes smaller than a pack of cards, that power electric engines.
Most are made of rare earth metals from China.
The metals in the magnets are actually abundant, but can be dirty and difficult to produce. China has grown to dominate production, and with demand for the magnets on the rise for all forms of renewable energy, analysts say a genuine shortage may lie ahead.
INSIGHT-China frictions steer electric automakers away from rare earth magnets Reuters 15 hrs ago
LONDON, July 19 (Reuters) - As tensions mount between China and the United States, automakers in the West are trying to reduce their reliance on a key driver of the electric vehicle revolution - permanent magnets, sometimes smaller than a pack of cards, that power electric engines.
Most are made of rare earth metals from China.
The metals in the magnets are actually abundant, but can be dirty and difficult to produce. China has grown to dominate production, and with demand for the magnets on the rise for all forms of renewable energy, analysts say a genuine shortage may lie ahead.
Automakers start to look away from China for rare earth magnets in electric motors autoblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autoblog.com Daily Mail and Mail on Sunday newspapers.