Economic Comparison of NdFeB and Hard Ferrites in Automotive Applications

With the increasing use of electric motors in automobiles—in some cases as many as 100 electric motors per vehicle—alternatives to ferrite magnetic materials are under consideration. If more powerful magnetic materials could be implemented, size reductions in these motors could result in curb weight reductions that lead to improved fuel economy. NdFeB magnets are attractive as potential replacement materials, due to their higher flux density and thus smaller required size; however, high material costs have limited their implementation. To investigate the economic competitiveness of alternative magnetic materials, technical cost models (TCMs) were developed and used to examine the manufacturing economics related to the production of both NdFeB and ferrite magnets. Results from the TCMs are used to identify the cost drivers and opportunities for cost reductions. Subsequent investigations will include effects on vehicle fuel efficiency, and the environmental impact of magnet manufacture and disposal.