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New Toyota magnet cuts dependence on key rare earth metal for EV motors

To reduce the cost of producing electric vehicles, carmakers have been developing new high- powered magnets that require less rare earth metals.


TOYOTA Motor Corp has found a way to reduce the amount of a key rare earth metal used in magnets for electric car motors by around 20 per cent, which could tame the cost of producing electric cars and reduce the risk of a supply shortage of materials needed for their production....