Toyota Developing EV That Could Use 50 Percent Less Rare Metals
Toyota Developing EV That Could Use 50 Percent Less Rare Metals! Recently Toyota has designed a magnet that halves the amount of rare earth metals in its electric cars, which could help mitigate the fall out of a looming materials shortage. Many electric vehicles traditionally use neodymium, terbium and dysprosium in its electric vehicles, but Toyota developed a battery that uses the rare earths lanthanum and cerium instead, which are more plentiful and cost 20 times less than neodymium.
“An increase in electric car production will raise the need for motors, which will result in higher demand for neodymium down the line,” Akira Kato, general project manager at Toyota’s advanced R&D and engineering company, told reporters at a briefing in Tokyo. “If we continue to use neodymium at this pace we’ll eventually experience a supply shortage … so we wanted to come up with technology which would help conserve neodymium stocks.”