(February, 2018) Kudos to Toyota for its development of the first Heat Resistant Neodymium Iron Boron magnets that:
1) Avoids the use of expensive heavy rare earth elements such as Dysprosium and Terbium; and
2) Substitutes less expensive Cerium and Lanthanum for Neodymium via an innovative process so there is minimal decrease in performance.
The heavy rare earth elements such as Dysprosium and Terbium played a role in huge price spikes in the permanent magnet industry a few years ago. These elements are crucial to enable Neodymium Iron Boron magnets to operate at higher temperatures for automotive applications. Until now, all attempts at eliminating their use has been for naught.
While it is likely that Toyota will only produce this material internally, we are impressed to see continued innovation in the permanent magnet material world.