Automakers look to secure rare earths before China export controls, Reuters say

Automakers are looking across the globe to secure rare earths ahead of Chinese export controls, with executives worried the new rules could lead to parts shortages and plant closures, Nick Carey and Christina Amann of Reuters reports. While a deal between the U.S. and China diverted the supply deal, stockpiles were depleted by similar restrictions this year. AlixPartners, a consultancy firm, estimates China controls up to 70% of global rare-earths mining, 85% of refining capacity, and 90% of rare-earths metal alloy and magnet production. Publicly traded companies in the space include Ford (F), General Motors (GM), Honda (HMC), Lucid Group (LCID), Mercedes-Benz (MBGYY), Nissan (NSANY), Rivian (RIVN), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY).