Honda completely removed Dy/Tb in their last redesign. No...

Honda completely removed Dy/Tb in their last redesign. No surprise to see Toyota doing so.

The real surprise is the use of La/Ce whose magnetic properties just don't seem to support it. Looking forward to hearing more on this, mostly out of scientific curiosity.

The talk of a supply issue is primarily directed at Nd-Pr, in my opinion.

What's after EVs? Nothing.
There's simply nowhere to go.
Imagine any sort of power source, be it battery or supercap, any sort of fuel cell, solar, nuclear, steam, whatever; they are all just sources of energy to drive electric motors.

So, motor design sustainability is key. The ICE lasted 100+ years; at best it has another. Whereas electric motors have been around longer and have to last forever. There's no substitute.

The battle for the huge transport market going forward will be between motors with no magnets (induction motors) and motors with permanent magnets. ICE vehicles are toast. EVs are just a few percent now; the ramp-up coming will massively challenge supplies.

Just looking at the next 10-15 year ramp-up, the best permanent magnets now contain too much Nd for purposes of sustainability given its availability and cost, which is caused by low-grade ores and the means of extracting them. Yet despite their cost, they are the best hope, because lightweighting is essential to extend the weak link: battery capacity.

Lower Nd content and/or lower Nd cost are the best ways to insure that motor designers will commit to Nd-Pr-containing PM motors.

Induction motors will always dominate for heavier transport duty because they can generate more power. And they will increasingly challenge PM motors in the light transport as batteries (and/or fuel cells and hydrogen storage) improve UNLESS permanent magnets become cheaper.

During the ramp-up coming, Lynas is sitting pretty with its HUGE resource. If they improve reserves, expand the LAMP and can keep Nd price reasonable stable, they will make bank - and we will, too.

GLTA