Now for the bad news. The Prius uses what are called "rare metals" in its batteries, magnets, and electric motors. We've perhaps never heard of these metals. So why are they so important?
Let's look at some of these rare metals. Neodymium is used in an alloy for high-power, lightweight magnets for electric cars. Dysprosium is used to maintain neodymium's magnetic powers at high temperatures. Lanthanium is a major ingredient in hybrid car batteries.
A Prius electric motor uses 1 kg (2.2 lbs.) of neodymium and each battery uses 10-15 kg (22-33 lbs.) of lanthanium.
So what does this mean for the future of rare metals? It is estimated that demand will exceed supply by 40,000 tons annually in several years.
Where do these rare earth elements come from? China has some, but they are using them for their own production. That leaves Canada and Vietnam, and to a lesser extent the United States.
You would need to do your own research on specific companies that are mining these rare metals and whether they are listed on any major exchanges.
Would you invest in rare metals companies?
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Reader Comments (Page 1 of 1)
9-01-2009 @ 7:08PM
Steve said...
To all you who think the Prius is all that....better do some research first. It too runs on finite (and expensive) resources. What we need is a synthetically produced fuel for our existing cars that burns cleaner and is easily made from expendable materials. Not some goofy looking death trap that will create its own problems.
9-01-2009 @ 10:34PM
teampdf said...
When your Pirus / Battery car gets rear ended or run over by another vehicle or giant truck .... you will (if you survive) look like the Wicked Witch Melting in the Wizard of Oz ... only not from water ... From Battery ACID .... but ... l.o.l. battery acid is not bad for the enviornment, right? Go Green Goobers, or better yet ... just GO away green - blue or what ever color you like. Those easily led will be easily led to slaughter.