Hyundai Motor and Kia have established the Hyundai Motor Group Magnetic Material Joint Research Laboratory at Yonsei University’s Sinchon Campus in South Korea. Korean media reported on Tuesday that the facility aims to develop technology to replace and recycle rare earth elements.
These elements are key materials in the neodymium permanent magnets which EV motors use.
The production causes pollution and some countries regulate imports and exports of rare earth elements. Technologies to replace rare earth magnetic materials and to recycle used components has become an important task for the automaking companies, according to the reports.
Hyundai Motor and Kia plan to run the laboratory for three years in collaboration with seven universities and Hyundai NGV, an industry-academia body.
