By lowering the use of
expensive rare earth metals, the cost of the new batteries has been reduced by about 30 percent.
Not exact matches
Platinum, one of the
rarest and most
expensive metals on
Earth, may soon find itself out of a job.
In fact, if meteorites hadn't later deposited gold on
Earth's surface millions of years after its core had fully formed and its crust had cooled, gold would be even more
rare and
expensive than it is today.
«Anything that comes out, we'll take,» he says of the hunt for an alternative to neodymium, although the only known alloy as strong as
rare earths is composed of iron and platinum, which is too
expensive to compete commercially.
«Without
rare earths, you'd have to use larger, heavier magnets, and you'd have to build a stronger, more
expensive tower to support them,» says materials scientist Alex King of the U.S. Department of Energy's Ames Laboratory.
The JLR design doesn't use
rare earth magnets and has aluminium winding instead of the more common, and more
expensive, copper.
According to Ford, the new batteries could also reduce the company's use of
expensive, less - abundant
rare earth metals by up to 500,000 pounds a year.
Most investments in stocks involved in
rare earth metals are quite
expensive.
The need to eliminate our dependency on
expensive platinum and other
rare -
earth metals is why the U of C breakthrough is potentially game - changing.
Every one of these alternatives relies on manufacturing methods and materials that are at the upper limits of our technical abilities, and which rely on resources such as
rare earths which are difficult and
expensive to extract, and which are controlled by only a few nations who may or may not be inclined to export such materials when push comes to shove.
I wanted to buy some
rare earth oxides and noticed the unit price is 6 or more times more
expensive in the USA than if bought from China, even with international shipping included.