MP Materials has an ambitious US rare earth supply chain strategy to fuel EV innovation
Charged EVs
MARCH 11, 2024
Permanent magnet motors are dominant in the EV industry, due to their superior efficiency. The majority of EV traction motors use rare earth magnets. There’s much hand-wringing in the press these days about battery raw materials such as lithium, cobalt and nickel. Electric motors work on the principle of electromagnetic motion.
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