Toyota to develop electric cars without rare earth

Toyota is close to breakthrough in developing a motor for hybrid cars without using rare earth minerals, the Wall Street Journal reported.

All electric motors rely on magnets to work. The new motor Toyota is working on is based on inexpensive induction motor, the report said.

Permanent magnets are made from neodymium, a rare earth mineral. The new induction motor will mean the company will break its reliance on the mineral.

The report is here: http://online.wsj.com/article/SB10001424052748703583404576080213245888864.html

Here is the Bloomberg story:
http://www.bloomberg.com/news/2011-01-14/toyota-readying-electric-motors-that-don-t-use-rare-earths.html