Invention of the Neodymium magnet.The Honda Foundation, a public interest incorporated foundation established by Soichiro Honda and his younger brother Benjiro and currently led by President Hiroto Ishida, is pleased to announce that the Honda Prize 2023 will be awarded to Dr. Masato Sagawa (an advisor to Daido Steel Co., Ltd. and the president of NDFEB Corporation) and Dr. John J. Croat (former president of John Croat Consulting, Inc.) for their invention of the world’s most powerful permanent magnet—the neodymium magnet—which contributes to our daily lives.

New EV motor said to cut need for rare-earth neodymium magnets.This new technology from Japan’s Proterial would reduce dependence on China for minerals.

Japanese metal maker Proterial has developed a prototype motor for electric vehicles that uses magnets that do not contain the rare-earth metal neodymium.

The Pentagon is funding a company named E-VAC Magnetics to make rare earth magnets in the US, to reduce its reliance on China.

Rare earths magnet firms turn to Vietnam in China hedge.Korean and Chinese magnet firms, including an Apple supplier, are set to open factories in Vietnam, according to documents and people familiar with the plans, amid a push to diversify supply chains away from China and defend against Sino-U.S. tension.