Renault seeking Chinese rare-earth-free motor supplier, sources say [BNN Bloomberg (Canada)]
RENAULT SA UNSP/ADR (RNLSY)
NASDAQ:AMEX Investor Relations:
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Source: BNN Bloomberg
Automakers including Renault, General Motors and and suppliers such as ZF, BorgWarner and Valeo have been developing EV motors which do not require rare earths. Renault said in late 2023 it was working with Valeo on a new, more powerful and more compact EV motor without rare earths, which it described as “an innovation made in France.” China controls 70 per cent of global rare earths mining and 85 per cent of refining and Beijing's decision to impose growing exports curbs on rare earths has sent the industry scrambling for supplies. Renault has used rare-earth-free motors since 2012, while Valeo brought expertise on the stator, the fixed part where the rotor is housed, using new copper wire technology. “The E7A engine project is no longer being done with Valeo,” one of the two sources said, adding: “It will be done entirely in-house across the entire value chain, except for the stator which could be bought from a Chinese supplier.” Renault's decision to end Valeo's involvem
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