UK Keen for Rare Earth Magnet Independence

Britain could revive domestic production of high-powered magnets used in electric vehicles with government support, cutting its reliance on China. British production of the magnets vanished in the 1990s when industry found it could not compete with China. But with the huge growth in demand, the government is keen to secure enough supply. A magnet factory would help the UK meet its goal of banning the sale of new petrol and diesel cars by 2030 and slashing carbon emissions to net zero by 2050.