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The future of road transport is electric – within the foreseeable future, pure electric vehicles (EVs) will populate our roads. Vital to the success of this transition is improved, next-generation motors based on improved magnetic materials; which provide high levels of flux at elevated temperatures, while retaining resistance to reverse magnetic fields and the corrosion problems associated with running electric motors in an automotive application. Currently, these magnets are based on the rare-earth elements neodymium and dysprosium, which are predominantly mined in China (>95%). Exports are being restricted as a result of an expanding domestic market and a policy of relocating magnet manufacturing to China, thereby multiplying the costs of raw materials for magnet manufacturers in Europe.

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