Toyota (TM) Snubs Rare Earths
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Amid a potential shortfall of rare earth supplies globally, stemming from China's plans to curb exports this year, Toyota (NYSE: TM) said that they are working on an alternative motor for hybrids that won't rely on the minerals.
According to Bloomberg, a spokesperson for Toyota said that their engineers are working on an inductive motor that is both lighter and more efficient that the magnet-type motor used right now. He notes that research is in an "advanced" stage, though timing of a roll out in new hybrids wasn't nailed down. The spokesperson called it a "long-term" approach.
China, the supplier of 90% of the worlds rare earth minerals, cut their exports by 35% in December, following a reduction of 72% in H210.
Rare earth's such as neodymium and dysprosium are also used in Nissan's Leaf, General Motor's (NYSE: GM) Volt, and Honda's (NYSE" HMC) Insight hybrid.
Toyota is already scheduled to release an all-electric RAV4 SUV, that will tap Tesla Motors (Nasdaq: TSLA) to supply an inductive motor which will require no rare earths. The RAV4 is separate from Toyota's current project.
Stocks to watch today include:
According to Bloomberg, a spokesperson for Toyota said that their engineers are working on an inductive motor that is both lighter and more efficient that the magnet-type motor used right now. He notes that research is in an "advanced" stage, though timing of a roll out in new hybrids wasn't nailed down. The spokesperson called it a "long-term" approach.
China, the supplier of 90% of the worlds rare earth minerals, cut their exports by 35% in December, following a reduction of 72% in H210.
Rare earth's such as neodymium and dysprosium are also used in Nissan's Leaf, General Motor's (NYSE: GM) Volt, and Honda's (NYSE" HMC) Insight hybrid.
Toyota is already scheduled to release an all-electric RAV4 SUV, that will tap Tesla Motors (Nasdaq: TSLA) to supply an inductive motor which will require no rare earths. The RAV4 is separate from Toyota's current project.
Stocks to watch today include:
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