Shortages for a few key critical elements forever
While rare earth prices have skyrocketed higher over the last year, there should be “abundant supplies” of most rare earths around 2015 thanks to new mines according to some experts.
Unfortunately, supplies of two rare earths commonly used in the motors found in electric and hybrid cars appear to be facing permanent shortages.
Neodymium and dysprosium, according to experts, are destined to remain in short supply and largely controlled by China.
Fortunately, a number of rare earth-free motors are in the works, but cost and performance issues still remain.