Automobiles industry: Uneasy about Decline of China¡¯s Rare Earth Exports

(China Aluminum Network): At the meeting the global automotive elite, automotive industry experts speculated that given threatened by rare earth importing from China, automobile industry would encountered many problems.

Rare earth metals are widely used for magnet motor vehicle, other High-tech and defense products manufacturing. China’s current rare earth metals production accounts for 97% of global total capacity.

According to figures from China Ministry of Commerce on Tuesday, China’s rare earth exports may deplete at the end of this year.

Nicolas Meilhan senior consultant of Frost & Sullivan said shortage of rare earth would generate effect to automobile industry, but full influence would only appear after electric car sales increase.

Rare earth is used for producing electric motors and rechargeable battery needed by Hybrid vehicles.

Jacques Aschenbroich CEO of VLOF.PA said, “rare earth supply is just short-term problem. Given we cant import rare earth from China, new sources of supply may appear.”

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