Global Rare‑Earth Magnet Shortage Threatens EV Production
China’s latest clampdown on Rare‑Earth magnet exports—essential components in electric vehicle (EV) motors—is disrupting the global auto industry. These powerful yet compact magnets are crucial not only for EV motors but also for electronic power steering and sensors in conventional cars. China controls around 90% of the refined magnet market and 70% of mining output. […]