Nikkei reports that on Thursday, a team of researchers, primarily from Toda Kogyo Corp. (TYO:4100) and Tohoku University, succeeded in making a magnetic material without rare-earth metals.
The market news is quoted as saying:
The material is an ultrafine powder — made from iron and nitrogen — measuring tens to hundreds of nanometers in diameter. It can be used in electric-vehicle motor magnets, the researchers say. The goal is to commercialize the compound by 2023 with help from Toyota Motor Corp. (7203) and Honda R&D Co.