How is the shift to PHEVs impacting demand for NdFeB magnets?
2024 has seen a flurry of headlines shining light on the so-called shift to hybrids as battery electric vehicle sales growth has started to wane in some key markets and plug-in hybrid electric vehicles sales growth has started to accelerate.
This topic was a major theme at Rare Earth Mines, Magnets & Motors 2024 last month in Toronto and was the focus of a presentation Adamas delivered during the ‘Sizing Up the Elephants in the Room’ segment of the event.
In the near-term, the shift to hybrids is likely negative news if you’re an automaker, a battery maker or supplier of battery raw materials, but for suppliers of NdFeB magnets and the rare earth elements they contain, the rise of plug-ins is already proving to be a net-positive for demand.
