We’re at 2% EVs. Biggest threat to 100%?

US President Biden said his goal is that 50% of cars sold in 2030 will be zero-emission vehicles: less than 9 years away. So … is that doable?

Maybe, but the US needs 10X more rare earths for magnets.

Currently, less than 2% of cars on American roads are electric. About 17-19M cars are sold in the US annually, and a little over 300,000 are EVs. So we’re at about 2%.

One of the things you need is batteries. The other is electric drivetrains, and for that you need rare earths for magnets: neodymium,  praseodymium, dysprosium, and terbium. Plus, of course, lithium for batteries. It't not just electric cars ... the F-35 fighter jet needs a ton of rare earths. Wind power requires it, and so do batteries that power energy storage for green economy plans.

In fact, according to Pini Althaus, CEO of USA Rare Earth, the U.S. needs 10X more by 2030, and maybe 25X more by 2050.

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0:00 USA electric vehicle goals

2:00 Rare earths

5:06 China and rare earths

6:59 How much do we need?

10:50 Increasing production of rare earths

12:28 Environmental concerns

14:08 How China secures resources

15:24 Is there enough in the US?

17:41 National security implications