Jack Lifton Debunks Market Myth: Lower EV Demand Doesn’t...

Jack Lifton Debunks Market Myth: Lower EV Demand Doesn’t Correlate with Permanent Magnet Demand: (May 21, 2024, Source) — Jack Lifton emphasizes that declining EV demand does not equate to reduced demand for rare earth permanent magnets, vital in the non-Chinese OEM automotive industry, particularly for hybrid powertrains. Despite varying trends in vehicle production, including hybrids alongside electric and internal combustion engines, the demand for these efficient magnets is expected to grow. Companies like Toyota project an equal distribution of EVs, hybrids, and traditional engines in future production, suggesting a continued reliance on these magnets. Meanwhile, U.S. policies and Chinese export restrictions pose significant challenges, with only limited U.S. capacity for rare earth processing and magnet production, primarily aimed at military needs. The sustainability of the U.S. automotive sector heavily depends on establishing a robust domestic supply chain for these critical components. QUOTE
US Government has to boost domestic supply of rare earth for magnet production IMO

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