New Toyota EV Motor Now More Affordable as It Requires Less Rare-Earth Metal
Looks like Toyota has discovered a means to decrease the amount of a crucial rare earth metal utilized in magnets for EV motors by roughly 20%. This then consequently reduces the price for making EVs and the possibility of a supply scarcity of materials required for making them. The Japanese car company revealed they have come up with a magnet that replaces some of the neodymium with more available and affordable lanthanum and cerium. Toyota aims to use the magnets in electrified car motors within the next 10 years. It’s expected that there’ll be more EVs and hybrid cars to be produced in the next few years. Thus, car manufacturers and electronics firms have been producing new high-powered magnets that need less rare earth metals to cut costs and lower exposure to probable supply instabilities.
Read more on Autoblog.
Photo credit: Toyota Motor Europe via Flickr.
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