• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 1 hour Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 4 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 44 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 4 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 2 days U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 2 days Nord Stream - US/German consultations
  • 4 days An Indian Opinion on What is Going on in China
  • 408 days Class Act: Bet You've Never Seen A President Do This.
  • 4 days Can Technology Keep Coal Plants Alive and Well?
  • 5 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 2 days Australia sues Neoen for lack of power from its Tesla battery
  • 1 day Forecasts for Natural Gas
  • 4 days Storage of gas cylinders
MINING.com

MINING.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

More Info

Premium Content

Toyota Finds A Way To Make Cheaper EVs

Toyota Motor Corp, Asia’s No.1 carmaker, has found a way to make electric vehicles (EVs) more affordable and less vulnerable to shortages in supply of the key elements needed to produce the rechargeable batteries that power them.

The key for such new wave of EVs is a magnet for electric motors developed by the Japanese firm, which halves the use of a rare earth called neodymium and eliminates the use of others called terbium and dysprosium, the company revealed on Tuesday.

In their place, Toyota will use the more abundant rare earths lanthanum and cerium, which also cost about 20 times less than neodymium. The automaker, which plans to ask suppliers to make such magnets, said it aims to use them in its EVs within the next 10 years.

(Click to enlarge)

With prices of neodymium still rising and rare earths exports from China dropping by 30 percent in 2010 as it keeps more of the metals for its own electric car industry — the world’s biggest —,Toyota’s work seems perfectly timed.

(Click to enlarge)

The announcement also comes just a week after Samsung SDI, South Korea’s leading battery maker, unveiled plans to recycle cobalt from used mobile phones and develop lithium-ion batteries with minimum content of the metal, or no cobalt at all, as a way to offset soaring prices for the silver-grey commodity.

Currently, electric cars add up to roughly 1 million, out of a global fleet of closer to 1.1 billion, according to estimates by world number one mining company BHP (ASX, NYSE: BHP) (LON:BLT).

The mining giant believes that figure could rise to 140 million electric vehicles, or 8% of the global fleet, by 2035.

Its predictions are not far off from the International Energy Agency's (IEA). The organization estimates there were 2 million electric vehicles on the world’s roads in 2016. But the agency is more moderate than BHP when it comes to projections, as it expects the number of electric vehicles to reach around 40 million by 2040.

By Cecilia Jamasmie via Mining.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News