China’s BAN on Rare Earths: The Major Shifts Coming to the EV Industry
This video was first publish on Car Coach Youtube Chanel
China’s Rare Earth Export Ban to Hit US EV Goals? re the two countries on a collision course? And as the United States works to reduce reliance on China, will efforts like these actually dig the West into deeper dependence? Some lawmakers say yes. This is a HUGE story.
China is planning an export ban on rare earth magnets on the grounds of “national security,” according to recent reports. These magnets are found in electric vehicles, wind turbine motors, and even military planes. The United States and other Western countries are pushing toward what the government calls decarbonization, while China looks to corner the growing electric vehicle market because it currently dominates in this sector of rare earth magnets and minerals.
If this ban comes into action, it’ll put a dent in the goals of the United States and Europe, which don’t manufacture or mine these minerals on their own.
How did China come to dominate the world of electric cars?
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00:00 #China #BAN on #rareearthminerals - Major Shifts Coming to the #ev Industry
00:20 All electric by 2032
00:55 decarbonization
01:30 US imports 78% of battery minerals
02:07 How did China come to dominate the world of electric cars?
02:40 China 5-Year Plan
03:20 China controls EV battery supply
04:10 UBS predicts demand increase by 655%
04:31 US imports from #China #Canada and #Brazil
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