Navigating our sustainability report
Empowering Vehicle Electrification
Rare earth permanent magnets (REPMs) made from Neo Magnequench’s highly engineered magnetic products are powering an increasing number of traction and micro-motors in conventional and electrified cars and trucks. REPM motors help to reduce weight and increase vehicle range in EVs, PHEVs, and hybrid electric vehicles. They also reduce weight, improve fuel economy, and reduce air emissions in internal combustion engine vehicles.
Enabling Electric Vehicles with Rare Earth Permanent Magnets
Rare earth permanent magnets (REPMs) serve as vital components in energy-efficient of drivetrain motors for electric vehicles (EVs). Similar to how lithium-ion materials are the primary critical raw materials for EV batteries, REPMs are a critical component for EV drivetrain motors.
Without employing rare earth permanent magnets in EV drivetrain motors, energy loss would increase, necessitating batteries that are 20-30% larger to achieve the same range. This would further burden the already constrained supply chain for critical battery materials and impede the economic viability of transitioning to EVs.
Neo owns the leading industrial-scale, rare earth separation facility in Europe. We are the only company that operates dual supply chains for rare earth element (REE) separation and REE advanced materials both inside and outside of China. As more governments globally set ambitious EV transition targets, addressing issues in the rare earth supply chain becomes increasingly crucial.
When using 1-2 kg of rare earth magnets in the motor, you save from the battery an order of magnitude of lithium, nickel, cobalt, graphite and magnesium – without sacrificing performance and range.