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Rare Earth Ban Fuels Doubt About The Viability Of The US Auto Industry

The article from Forbes, published on December 10, 2024, discusses the potential impact of a ban on rare earth elements (REEs) from China on the U.S. auto industry. China's dominance in the production of REEs, which are crucial for manufacturing electric vehicles (EVs), has led to concerns about supply chain vulnerabilities. The U.S. has been attempting to reduce its dependency on Chinese REEs through domestic production and alternative sourcing, but progress has been slow. The ban has fueled doubts about the viability of the U.S. auto industry, particularly the EV sector, as manufacturers face increased costs and potential delays in production. The article highlights the strategic importance of REEs in EV motors, batteries, and other components, and explores the geopolitical tensions and economic implications of this dependency. It also mentions efforts by U.S. companies to innovate around these materials or find substitutes, though these solutions are not yet at scale to meet industry demands.

Read the Full Forbes Article at:
[ https://www.forbes.com/sites/stevebanker/2024/12/10/rare-earth-ban-fuels-doubt-about-the-viability-of-the-us-auto-industry/ ]