IDTechEx: EV market doubles down on permanent magnets despite material costs
Green Car Congress
DECEMBER 3, 2022
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 higher than it was between 2013-2020. While some automakers have alternative motor technologies that don’t rely on rare earths, the market has not shifted in this direction significantly.
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