Nissan Motor Co. Ltd. has developed a new technology to halve the cost of recycling rare earths used in magnet motors for electric vehicles (EVs), the company said on Friday.
With tension simmering between China and the United States, automakers are trying to reduce their reliance on a key driver of the EV revolution — permanent magnets that power electric engines, as most are made of rare earth metals from China.
Automakers are also concerned about huge price swings of the metals and environmental damage in the supply chain.