Together in Electric Dreams - Jaguar and Land Rover brands have vowed to become all-electric by 2025
Following news that Jaguar and Land Rover brands have vowed to become all-electric by 2025, the global race to profit from emission-free electric cars is well and truly on.
Their plans for an all-electric future have been welcomed by academics and motor industry figures, and follows in the footsteps of fellow automakers such as Volkswagen, Ford Motor and General Motors who have made similar promises to transition to an emission-free future.
This means magnets will play an integral part in the electric vehicle revolution.
It is commonly known that Electric Vehicles (EVS) use electric, rather than traditional gasoline motors to provide propulsion. What is not as well known is that rare-earth magnets, particularly Neodymium-Iron-Boron (NdFeB), are a major component of all electric motors, due to their higher remanence and much higher coercivity and energy production.
The use of rare earth magnets in these vehicles is expected to grow from approximately 7,000 metric tons in 2020 to 12,000 metric tons by 2024. In real terms, sales of electric vehicles rose by 43% while overall car sales slumped by a fifth last year.
The EV-volumes.com data showed the five highest national sales were in China (1.3m), Germany (0.4m), the US (0.3m), France and the UK (both 0.2m). However, growth in the US was only 4% in 2020, due to few new models being available, although that is likely to change later this year and into next.
The race is well and truly on and it looks set to be an interesting journey for the motor industry to the finish line, which ultimately is an emission-free future.
TyTek Industries has over 30 years of experience and expertise in the magnet industry and we can supply prototypes right through to full-scale production with a trusted source.
If you’re in the race to ‘win’ the EV market, talking to TyTek will give you the perfect head start.