Global PMSM Market Share Continues to Rise Despite Soaring Rare Earth Prices

Aug. 11, 2021

Increased Market Share by Units Deployed

In 2021 H1, more than 5 million traction motors and generators were deployed onto roads in newly sold xEVs (HEVs, PHEVs, BEVs) globally, 92.1% of which were permanent magnet synchronous motors (“PMSMs”), up symbolically from 92.0% during the same period the year prior, according to Adamas Intelligence’s latest “EV Motor Materials Monthly” report.

Increased Market Share by Power Deployed

Moreover, in 2021 H1, more than 475 GW of EV traction motor (and generator) power was deployed onto roads globally in newly sold xEVs, 90.0% of which was powered by PMSMs, up significantly from 86.9% during the same period the year prior.

Increased Market Share in the Face of Rising Rare Earth Prices

The increase in PMSM market share is especially remarkable when considering that magnet rare earth prices have more-or-less doubled year-over-year, speaking to the industry-leading efficiency and power-density that PMSMs offer and the cost-performance benefits that they yield at the system level.

Tesla Doubles Down on PMSM Use in Latest Refreshes

For its newly-refreshed Tesla Model S versions, Tesla has ditched the induction motor formerly used on its multi-motor models for all PMSMs. The new Tesla Model S Long Range uses a 247 kW PMSM on each axle for total combined power of 494 kW. The new Tesla Model S Plaid, on the other hand, uses two 250 kW PMSMs on the rear axle and one 250 kW PMSM on the front axle for total combined power of 750 kW.

Renault Opts for PMSMs for Latest Hybrids

Even Renault, which has long opted to use electrically-excited synchronous motors (“EESMs”) in its EVs, made the switch to Nissan-supplied PMSMs for its new E-TECH platform, used in the latest Renault Captur and Megane PHEVs, as well as the Renault Clio and Arkana HEVs.


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