Stanford Magnets

Electric Vehicle - Automobile & Ground Transport - Cars

The Electric Vehicle industry develop fast during the past several. The stock of Tesla Motors, the electric sports car manufacturer, has risen six-fold in the past year, giving it a market capitalization of $22 billion. The development of Tesla is putting pressure on other automakers like Ford and GM. Electric vehicle and Hybrid vehicle is predicted to claim about 7% of “light duty” vehicles sold worldwide in 2020. That is to say about 6.6 million units. This is great news for declining market of neodymium magnets, as each Electric vehicle will use about 10 Lbs of Neodymium Magnets and each Hybrid vehicle will use about 5 Lbs. Auto industry will use about 100,000 Tons of Neodymium Magnets in 2020; about 20% of them go to Electric vehicle and Hybrid vehicle.