Toyota forms non-Chinese rare earth supply partnership, task force
Toyota moving beyond Chinese dyprosium
Toyota diversifies battery supply chains
While the Chinese continue to claim that a rare earth metal ban has not been imposed against Japan, Toyota is taking no chances.
Toyota has set up a new rare earth metal task force, as well as a new supply partnership with Australian Lynas Corp.
Even before news of the potential Chinese export ban broke, Toyota was already making rare earth moves according to BusinessWeek.
“Toyota Tsusho Corp., a trading company affiliated with the carmaker, has formed a joint venture with Sojitz Corp. and a Vietnamese state-run mining company to export rare earth metals to Japan from 2012, spokesman Katsutoshi Yokoi said. The company acquired Tokyo-based rare earth metal importer Wako Bussan Co. in December 2008, which will import materials from India from next year, Yokoi said.”
[...] 0 Here is also some interesting read if you want to know more about rare earth and it direction Toyota forms non-Chinese rare earth supply partnership, task force | Hybridcarblog [...]
Is China being draconian? I’m not saying they are not, but if they really do intend upon a major green technological build-out, they might actually need much of their rare earth supply. Plus, in 5 years, rare earths may no longer be needed, so they need to maximize their profit potential in the short term.
Nonetheless, this should help keep China a bit more fair one way or another.
Excellent news! Now, if other companies follow suit, maybe it’ll cause China to rethink its draconian tactics.