Toyota Develops New Permanent Magnets for Electric Vehicles to Reduce Dependence
According to foreign media reports, Japanese automaker Toyota has announced that it has developed a new permanent magnet for electric vehicle motors, reducing the use of rare earth elements by about half. It is reported that this permanent magnet no longer needs expensive rare earth elements such as Terbium and dysprosium, and the use of neodymium is relatively small.
Undoubtedly, this new product can not only reduce the production cost of electric vehicles, but also reduce the dependence on rare earth elements.
Toyota said the new permanent magnets could be used in high output motors for electric vehicles, electric power steering, robots and household appliances. The company plans to use the permanent magnet in electric power steering motors by the end of 2025.
Rare earth elements are the key substances in the manufacture of electronic products, which can be used to manufacture various products such as smart phones, electric vehicles and military equipment. In particular, rare earths can also be used to make high-power magnets in automobiles, vacuum cleaners, wind turbines and other machine motors. Toyota says about 30% of the elements used in these magnets are rare earth elements.
Toyota said in a press release that dysprosium and terbium are relatively expensive and vulnerable to "geopolitical risks".
While neodymium is relatively abundant, Toyota fears that demand for electric vehicles, including hybrid and electric vehicles, may lead to a shortage of neodymium. Toyota replaced some Neodymium with lower-cost Elements Lanthanum and cerium.
Toyota said the magnet would "help reduce the risk of disruption of rare earth supply and demand and rising prices."