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Jul 22, 2021 LONDON – As tensions mount between China and the United States, automakers are trying to reduce their reliance on a key driver of the electric vehicle revolution — permanent magnets, sometimes smaller than a pack of cards, that power electric engines. Most are made of rare earth metals from China. The metals in the magnets are actually abundant but can be dirty and difficult to produce. China has grown to dominate production, and with demand for the magnets on the rise for all forms of renewable energy, analysts say a genuine shortage may lie ahead. Some auto firms h...

By Syndicated Content By Eric Onstad LONDON (Reuters) – As tensions mount between China and the United States, automakers in the West are trying to reduce their reliance on a key driver of the electric vehicle revolution – permanent magnets, sometimes smaller than a pack of cards, that power electric engines. Most are made of rare earth metals from China. The metals in the magnets are actually abundant, but can be dirty and difficult to produce. China has grown to dominate production, and with demand for the magnets on the rise for all forms of renewable energy, analysts say a...

INSIGHT-China frictions steer electric automakers away from rare earth magnets Reuters 15 hrs ago LONDON, July 19 (Reuters) - As tensions mount between China and the United States, automakers in the West are trying to reduce their reliance on a key driver of the electric vehicle revolution - permanent magnets, sometimes smaller than a pack of cards, that power electric engines. Most are made of rare earth metals from China. The metals in the magnets are actually abundant, but can be dirty and difficult to produce. China has grown to dominate production, and with demand for the magnets on th...

solar BMW [BMW.DE], Volvo [VOLV-B.ST], Google [GOOGL] and Samsung [SDI] have all signed up to the World Wildlife Fund’s moratorium on deep-sea mining, which calls for a ban on this type of mining until its environmental impact is better understood. Deep-sea mining extracts material used for battery manufacture, in particular manganese nodules, cobalt-rich iron and manganese crusts found in the sea floor at a depth of 4km to 6km. According to Reuters, the “potato-sized nodules” containin...

BMW Group, WWF Germany, Volvo Group back moratorium on deep-sea mining The BMW Group has launched an initiative to protect the deep seas in cooperation with the WWF Germany. In a joint declaration, the BMW Group, WWF and other companies—including the Volvo Group—undertake, as a precautionary measure, not to use deep-ocean minerals or finance deep-sea mining until comprehensive scientific research into the impact of deep-sea mining can be conducted and the consequences for the environment are clearly assessed. Mining in water thousands of meters deep could have destructive effects on vulne...