Toyota Develops New Magnet for Electric Motors Aiming to Reduce Use of Critical Rare-Earth Element by up to 50%

Toyota Motor Corporation (Toyota) announces that it has developed the world’s first neodymium-reduced, heat-resistant magnet. Neodymium magnets are used in various types of motors such as the high-output motors found in electrified vehicles, use of which is expected to increase rapidly in the future. The new magnet uses significantly less neodymium, a rare-earth element (“rare earth”), and can be used in high-temperature conditions.