Hyundai Motor looks to secure rare earth supplies

Newswire

SEOUL, Feb 21 (Reuters) - Hyundai Motor , South Korea's top automaker, said on Monday that it was seeking to secure rare earth metals used in electric and hybrid cars, as the industry braces for a possible shortage of the minerals. Rare earth metals like neodymium are used in the powerful magnets in motors that are a key component for electric and hybrid cars. China produces 97 percent of the world's rare earth metals, but Beijing set 2010 export quotas 40 percent lower than 2009 levels, ...

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