Schaeffler signs five-year supply deal with REEtec for rare earth oxides
2022-04-27 13:39:11 [Print]
Global automotive and industrial supplier Schaeffler has signed a five-year contract with Norwegian company REEtec AS for the purchase of rare earth oxides. The aim is to make electric motors for hybrid modules, hybrid transmissions and all-electric axle drives even more sustainable.
Permanent magnets manufactured using rare earth metals such as neodymium produce optimum magnetic flux in electric motors. In future, Schaeffler will procure these metals from REEtec AS, which uses a sustainable production process. The partnership will begin in 2024.
Permanent magnets manufactured using rare earth metals such as neodymium produce optimum magnetic flux in electric motors. In future, Schaeffler will procure these metals from REEtec AS, which uses a sustainable production process. The partnership will begin in 2024.
Neodymium Oxide 99.5%min EXW China
Unit:RMB/mt
China's praseodymium-neodymium mischmetal producers' inventory statistics by province by month
Unit: mt
