Blockchain Press Releases
IDTechEx Discusses 4 Ways to Eliminate Rare Earths in EV Motors and One You Haven’t Heard
BOSTON, Aug. 14, 2023 /PRNewswire/ — The use of rare earths in various modern technology has drawn attention over the years. But with the rising demand for electric vehicles (EVs), the issue has been brought to the fore. 82% of the electric car market in 2022 was using electric motors based on rare earth permanent magnets. China largely controls the supply of rare earths, and this has led to significant price volatility in previous years, with a large spike in 2011/2012 and a big rise between 2021-2022. Crucially, in comparison to some other technologies, several methods can be used to eliminate the use of rare earths in electric motors, which will be outlined in this article along with the pros, cons, and adoption.
This article is based on IDTechEx’s latest “Electric Motors for Electric Vehicles 2024-2034” report that analyses different motor technologies for performance, materials, market adoption, and future potential.
To briefly describe the construction of an electric motor, a stationary part (stator) has coils of metal (typically copper) fed by an electric current to generate a magnetic field. This field will then turn the rotating part of the motor (rotor). In a rare earth permanent magnet (PM) motor, the magnets are located on the rotor.
1. The Induction Motor
In an induction motor (or asynchronous motor), the rotating magnet field produced by the stator induces currents on the rotor, which in turn produces a magnetic field that is attracted/repelled from the radial field of the stator windings. The induction motor uses copper or aluminum bars or windings on the rotor. These motors typically present good peak power and torque density over short periods but can prove challenging to thermally manage and typically have lower efficiency than PM options.
Induction motors have been common in the EV market, being the primary choice of Tesla until the release of the Model 3 (which adopted a PM design). In the car market, some proponents remain, such as Audi and Mercedes, but induction motors are now largely used as a secondary motor, used for acceleration boosts as they do not create drag when not in use, eliminating the need for a decoupler.
2. The Wound Rotor Motor
Also known as an externally excited synchronous motor (EESM), the wound rotor synchronous motor (WRSM) replaces the magnets on the rotor with coil windings that can be fed with a DC current to generate a magnetic field. This has the advantage of being able to control both the stator and rotor field. The downsides are the additional manufacturing steps required to add windings to the rotor and brushes are needed to transmit power to the rotor. These motors have historically also had poorer power and torque density, but modern versions are comparable with PM motors.
Renault was an early proponent of this technology in the Zoe, but now BMW and Nissan have adopted this design, and tier 1 MAHLE has presented a version with wireless power transfer to the rotor, eliminating the brushes.
3. The Switched Reluctance Motor
Switched reluctance motors (SRMs) are potentially the most simple to construct, with the rotor largely being constructed of steel. The steel of the rotor has low reluctance compared to the air around it, so magnetic flux preferentially travels through the steel while attempting to shorten its flux path, rotating the rotor. Despite their simplicity and reliability, SRMs have typically been plagued with poorer power and torque density with other issues, including torque ripple and acoustic noise.
While SRMs have largely been confined to more industrial or heavy-duty applications, significant efforts are going into their development for EVs. Companies like Turntide Technologies have added more rotor and stator poles and come up with more sophisticated control systems to overcome traditional issues. UK-based Advanced Electric Machines have developed a new type of motor with a segmented rotor that remains simple in construction but is said to eliminate the acoustic noise and torque ripple while improving power and torque density; this design is the center of a project alongside Bentley.
4. Alternative Magnetic Materials
While many OEMs have steadily reduced the rare earth content of their motors, Tesla gained much interest by saying that its next-generation drive system will be a PM motor without rare earths. There are several ongoing projects to develop rare earth free magnets that can compete on magnetic performance; these are at varying levels of commercialization.
The problem with alternative magnetic materials is that their magnetic performance is generally much worse. For example, some manufacturers that make rare earth and ferrite magnet motors show a reduction in power by 50-70% for ferrite version of the same size motor, meaning that to match performance, much more magnetic material and/or a much larger motor is required.
Proterial has developed magnets with magnetic properties that it states “deliver the world’s highest levels among ferrite magnets”. The motor design only requires 20% more magnetic material to keep the motor power density the same. Niron Magnetics are developing iron nitride magnets, and its next-generation versions are planned to compete with neodymium performance. PASSENGER is a European project developing strontium ferrite and manganese aluminum carbon alloys. While efforts are underway, materials with a truly comparable performance are still some ways into the future; however, with other changes to the motor design, they might not need to.
5. A High Speed Ferrite Motor with Further Optimizations
While the adoption of ferrite magnets would significantly reduce motor performance, optimizing many other motor features could minimize this impact. Australian technology company Ultimate Transmissions has submitted a patent for a ferrite motor design that it believes could be one route Tesla could take to eliminate rare earths in a PM motor.
The design uses much larger ferrite magnets and higher speeds (20,000rpm) to achieve comparable power to a similarly sized rare earth PM motor. One challenge comes from containing the magnets effectively in the rotor; a potential solution would be using a carbon fiber wrap on the rotor (a technology Tesla has already demonstrated in its Plaid vehicles). Another challenge is that the ferrite magnets would need to be heated for optimal operation, the opposite issue faced by neodymium magnets, but not unachievable.
It should be noted that this design is still in the simulation phase, and Tesla could well be taking a different approach, such as its own alternative magnetic materials. But in simulations, this approach has shown similar power, reduced costs, and reduced weight at the expense of slightly reduced torque and a longer stack.
IDTechEx predicts a significant rise in rare earth free motor technologies. Source: IDTechEx
Conclusions for the Future
There is an increasing focus, especially outside of China, on reducing the rare earth content of electric motors. There are several strategies, each with its own trade-offs and opportunities for motor manufacturers and material suppliers. IDTechEx is predicting that rare earth PM motors will remain the dominant technology, largely thanks to China’s dominance in the EV market and other mines starting to come online worldwide. However, it anticipates that rare earth free options, including those mentioned above, will account for nearly 30% of the market in 2034.
IDTechEx’s latest iteration of “Electric Motors for Electric Vehicles 2024-2034” takes a deep dive into motor technology, market adoption, material utilization, and market forecasts. It draws from a large database of vehicles and motors across vehicle segments, including cars, buses, trucks, vans, 2-wheelers, 3-wheeler, microcars, and aircraft.
To find out more about this report, including downloadable sample pages, please visit www.IDTechEx.com/motors.
About IDTechEx
IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, contact [email protected] or visit www.IDTechEx.com.
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Blockchain Press Releases
MEXC Announces the Listing of Balance (EPT) with 6,000,000 EPT and 50,000 USDT in Rewards
VICTORIA, Seychelles, April 21, 2025 /PRNewswire/ — MEXC, a leading global cryptocurrency exchange, has announced that it will list Balance (EPT) on April 21, 2025 (UTC). To celebrate the listing, the platform has launched a series of events featuring a total reward of 6,000,000 EPT and 50,000 USDT for users.
Balance is an innovative Web3 platform that integrates AI and blockchain technologies to create immersive digital interaction experiences. Developed by the team behind E-PAL, the world’s largest game companion platform. Balance offers services such as Human Epal, AI Epal, AI-Driven Battle Report System, and more. These features effectively address key challenges in blockchain gaming, including security, scalability, and development efficiency.
$EPT is the native utility token of the Balance ecosystem, with a total supply of 10 billion tokens. It functions as the core medium powering payments, governance participation, and on-chain transactions across the platform, forming a highly synergistic and sustainable internal economy.
In celebration of the Balance (EPT) listing, MEXC is launching a series of events to offer users exclusive opportunities to earn generous rewards.
The key details are as follows:
- Event 1: EPT Launchpool – Stake USDT, MX and EPT to Share 4,800,000 EPT
Event Period: April 21, 2025, 12:00 – April 24, 2025, 10:00 (UTC)
Users can stake USDT, MX, or EPT to earn valuable rewards through MEXC’s EPT Launchpool. - Event 2: Join Airdrop+ to Share 1,200,000 EPT & 50,000 USDT Bonus
Event Period: April 21, 2025, 12:00 – May 1, 2025, 10:00 (UTC)
Benefit 1: Deposit and share 960,000 EPT (New user exclusive)
Benefit 2: Futures Challenge — Trade to share 50,000 USDT in Futures bonus (For all users)
Benefit 3: Invite new users and share 240,000 EPT (For all users) - Event 3: Spread the Word & Win
Event Period: April 21, 2025, 10:00 – April 27, 2025, 23:59 (UTC)
Users who share the EPT events on social media during the event period can win extra rewards.
As a global exchange, MEXC drives innovation across emerging sectors such as Web3 gaming, AI, and DePIN by offering deep liquidity, streamlined market access, and performance-based incentive programs. The listing of EPT opens new investment avenues in the rapidly evolving AI-driven gaming space.
MEXC has established itself as a leading exchange by consistently offering users early access to high-potential crypto assets. In 2024 alone, the platform listed 2,376 new tokens, including 1,716 initial listings. According to the latest TokenInsight report, MEXC led the industry with 461 spot listings between November 1, 2024, and February 15, 2025. During this period, the exchange maintained a high listing frequency, consistently ranking among the top six platforms, demonstrating its agility in capturing emerging market trends. Looking ahead, MEXC remains committed to expanding its asset offerings and helping users seize timely opportunities in the fast-moving crypto market.
For full event details and participation rules, please visit here.
About MEXC
Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC
Risk Disclaimer:
The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.
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Blockchain Press Releases
Bybit’s CEO Meets with Vietnam’s Minister of Finance to Support Regulatory Sandbox and Strengthen Crypto Compliance
DUBAI, UAE, April 19, 2025 /PRNewswire/ — Ben Zhou, Co-founder and CEO of Bybit, one of the world’s second-largest cryptocurrency exchanges by trading volume, met with H.E. Nguyen Van Thang, Minister of Finance of Vietnam, to express Bybit’s strong support for the country’s regulatory sandbox initiative and its vision to build a safe, transparent, and innovation-friendly digital asset ecosystem.
Hosted at the Ministry of Finance headquarters, the meeting centered on Vietnam’s efforts to establish a comprehensive legal framework for crypto assets. Minister Nguyen Van Thang outlined the Government’s plan to launch a pilot sandbox mechanism that will allow regulators to test the issuance and trading of crypto assets in a controlled environment. This initiative is designed to mitigate risks, strengthen investor protection, and ensure regulatory readiness before introducing official legislation.
A key part of the discussion focused on safeguarding the market against illicit activities. The Minister emphasized the importance of robust compliance frameworks, including Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols, to prevent the misuse of digital assets and support the country’s financial security.
In response, Ben Zhou welcomed Vietnam’s measured and responsible approach to digital asset regulation and reiterated Bybit’s long-standing commitment to compliance:
“Vietnam’s forward-thinking regulatory sandbox is a critical step toward unlocking the full potential of blockchain technology. At Bybit, we are fully aligned with the Government’s focus on investor protection and financial integrity,” said Ben Zhou, Co-founder and CEO of Bybit. “We are proud to share our expertise in KYC, AML, and global compliance standards, and we look forward to supporting Vietnam in building a resilient, secure, and dynamic crypto economy.”
Bybit expressed its readiness to collaborate with Vietnamese authorities on several fronts, including system architecture design, transaction oversight, and the implementation of international best practices in AML/KYC. The exchange also proposed support in capacity building, such as training financial regulators and sharing experiences from other jurisdictions.
Minister Nguyen Van Thang welcomed Bybit’s proactive approach and assigned the State Securities Commission to coordinate with Bybit on concrete proposals. He also commended Bybit’s reputation for strong financial capabilities, technological resilience, and its adherence to legal and regulatory requirements in the markets where it operates.
This meeting underscores Bybit’s growing role as a trusted international partner for regulatory dialogue and innovation. It also highlights Vietnam’s readiness to embrace blockchain technology while ensuring financial safety and public confidence in the digital asset space.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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DUBAI, UAE, April 18, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is making waves with its latest trading showdown: Crypto Surf: Ride the Waves with Trailing Stops. This high-octane competition invites traders to rally behind either copy trading or trading bots, battling it out for their share of a prize pool worth up to $250,000 in USDT.
Running from April 18 to May 19, 2025, at 12 a.m. UTC, the event introduces a squad-based structure where users choose their camp, trade strategically, and compete across PnL, ROI and trading volume leaderboards. With a dynamic reward structure, participants can also win by predicting which squad will come out on top.
Prize Pool Distribution Highlights:
- 40% to the champion squad
- 30% to the runner-up
- 25% to the top 100 individual traders by volume
- 5% to users who correctly predict the winning squad
The event brings together the best of both worlds: the strategic finesse of copy trading and the automated power of trading bots. It celebrates innovation, user choice, and the thrill of crypto trading.
Participants must hold a minimum wallet balance of $1,000 in USDT, generate at least $10,000 in squad volume, and complete identity verification Level 1 to qualify. Users can only register for one squad and vote once to predict the winner. Rewards will be distributed within 14 business days of the event’s completion.
The total prize pool will scale in line with event volume milestones, starting at $1.2 billion and unlocking up to $2 billion in traded volume for the full $250,000 in USDT.
Bybit continues to redefine the competitive trading landscape – bringing fun, strategy and serious rewards to its global community.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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