Will Rare Earth Permanent Magnets Be Replaced in New Energy Vehicles?
2 Answers
Currently, in the field of new energy vehicle applications, the possibility of rare earth permanent magnet materials being replaced is quite low. Applications of rare earth permanent magnet materials in the automotive sector: In the new energy vehicle sector, they are mainly used in the production of permanent magnet drive motors and some automotive components, accounting for 11.8% of the demand. In the traditional automotive sector, high-performance NdFeB magnets are primarily used in core components of EPS, ABS systems, and automotive oil pumps, among other parts, with this sector accounting for 37.5% of the demand in 2018. Prospects of rare earth permanent magnet materials: The acceleration of the low-carbon economy continues to benefit rare earth permanent magnet enterprises. With the global push for enhanced new energy vehicle policies and the favorable policies related to 'carbon peak and carbon neutrality' domestically, it is expected that the rare earth permanent magnet industry will see continuous improvement in prosperity from 2021 to 2025, and major domestic NdFeB magnet manufacturers will continue to benefit.
From a technical perspective in the automotive field, the use of rare-earth permanent magnets in electric motors for new energy vehicles is quite common due to their exceptional efficiency, lightweight nature, and ability to deliver rapid acceleration while conserving energy. However, there are emerging signs of substitution, such as improvements in ferrite magnets or novel synthetic materials, which offer significantly lower costs and better environmental friendliness. On the R&D front, companies like Tesla are exploring ways to reduce reliance on rare-earth elements by adopting copper alloy magnets or aluminum-based composites. While these alternatives may slightly underperform compared to rare-earth magnets, the performance gap is narrowing. Nevertheless, completely replacing rare-earth magnets in high-performance motors remains challenging given their superior advantages. Achieving full substitution will require simultaneous advancements in motor design and material innovation. Over the next few years, we may witness partial replacements, particularly in mid-to-low-end vehicle models. It's crucial to monitor technological breakthroughs—if new solutions prove stable, the application of rare-earth materials could decline.
