Shortage of rare metals as hybrids increase

This was inevitable. When there is high demand for something then shortages will come too. Ever since hybrid vehicles have been doing the rounds in the consumer circuit, rare metals and lesser-known elements have been in use. But now, it seems there is a shortage in these rare metals. A report said that rare metals for hybrid vehicles face shortage. Japanese automakers have shown significant interest in a rare metal site at Canada’s Thor Lake in the Northwest Territories since China, the world’s largest producer of rare earth metals limits materials exports and has been considering a total ban on allowing some materials to leave its borders. Also, in China they are considering an absolute ban on exports of terbium, dysprosium, yttrium, thulium, and lutetium, products used in hybrid vehicle production. Also, it seems no substitute has been found for the crucial ingredient of neodymium which is used in electronics to enhance magnetic power.

And to make things even more tense is that the worldwide demand for 15 rare metals is anticipated to grow by 40,000 tons annually. And amongst the rare metal consumers, the biggest is Toyota’s Prius. And with the way they are going on building a bigger fleet and improving efficiency, more and more rare metals will become more rare to maybe just disappear.
[Leftlanenews]