New Toyota magnet cuts dependence on key rare earth metal for EV motors

TOKYO (Reuters) - Toyota Motor Corp has found a way to reduce the amount of a key rare earth metal used in magnets for electric car motors by around 20 percent, which could tame the cost of producing electric cars and reduce the risk of a supply shortage of materials needed for their production.

from Reuters: Business News http://ift.tt/2HuYT6t