The development of new high-efficiency magnets and/or electric traction motors using a limited amount of critical rare earths or none at all is crucial for the large-scale deployment of electric vehicles (EVs) and related applications, such as hybrid electric vehicles (HEVs) and e-bikes. For these applications, we estimated the short-term demand for high-performing NdFeB magnets and their constituent rare earths: neodymium, praseodymium and dysprosium. In 2020, EV, HEV and e-bike applications combined could require double the amount used in 2015.
