Rare earth magnets are made from special metals known as rare earth elements, which include 17 different elements from the periodic table. The two main types are Neodymium (Nd-Fe-B) and Samarium Cobalt (SmCo) magnets.
Despite the name, rare earth metals are not actually rare they are fairly common in the Earth’s crust. However, they are not found in large, pure deposits. Instead, they are spread out and mixed with other materials, which makes them hard and expensive to extract. Because of this, only a few places in the world supply most of these metals
China is the biggest producer of rare earth metals, while the U.S. comes next, but it still depends on imports because it doesn’t produce enough. Rare earth magnets are the strongest type of permanent magnets available. They perform much better than other common magnets
Where are rare-earth magnets used?
Rare earth magnets play an important role in traditional internal combustion engine (ICE) vehicles. They are used in various components such as power steering systems, windscreen wipers, electric windows, and other small electric motors that enhance vehicle functionality and comfort. While not critical to the core functioning of the engine in ICE, however, these magnets help improve efficiency and performance in several support systems.
In electric vehicles (EVs), rare earth magnets are absolutely essential. They are a key component of Permanent Magnet Synchronous Motors (PMSMs), which are commonly used in EVs. These motors offer high torque, better energy efficiency, and a more compact design compared to other motor types.
Indian Auto Industry is facing the head of the rare earth magnet Crisis. Bajaj Auto, TVS and Maruti Suzuki have raised concerns about potential production halts and setbacks. Maruti Suzuki has delayed the launch of their electric SUV, e-Vitara. The delay is primarily due to China’s export control on rare earth magnets, which are essential for EVs.
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Government’s Action
Union Minister of Commerce, Piyush Goyal, said that “In a way, it’s a wake-up call for all those who have become over-reliant on certain geographies. It’s a wake-up call for the whole world that you need trusted partners in your supply chain,”. In a way, he is saying that India too should look for the mining of these rare earth minerals.
India and five Central Asian countries have jointly expressed interest in collaborating on the exploration and mining of rare earth and critical minerals. This shared commitment was outlined in a joint statement during the recent India-Central Asia Dialogue.
Written By Abhishek Das
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