MP Materials has an ambitious US rare earth supply chain strategy to fuel EV innovation
Charged EVs
MARCH 11, 2024
Over 90% of the world’s rare earth magnets are produced in China. There are three stages in the rare earth magnet production process: mining; separating and purifying the elements; and transforming the elements into metal alloys and magnets. The majority of EV traction motors use rare earth magnets.
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