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The EV Market Doubles Down on Permanent Magnets Despite Material Costs, Says IDTechEx

December 2, 2022
Source: jimmyspost.com jimmyspost.com
News Snapshot:
BOSTON, Dec. 1, 2022 /PRNewswire/ — With the continued global turmoil experienced over the past few years, the prices of almost everything are rising. This has been especially true for the rare earth materials used in the manufacturing of electric motors for electric vehicles (EVs). The price of neodymium has remained fairly constant from 2013-2020, but 2022 saw a very sharp rise to its peak in February at 3.8 times greater than the previous average. While the price has settled somewhat, in October 2022, it is still 2.4 times higher than it was between 2013-2020. While some automakers have alternative...
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