Rare earth elements are cerium (Ce), dysprosium (Dy), erbium (Er), europium (Eu), gadolinium (Gd), holmium (Ho), lanthanum (La), lutetium (Lu), neodymium (Nd), praseodymium (Pr), promethium (Pm), samarium (Sm), scandium (Sc), terbium (Tb), thulium (Tm), ytterbium (Yb) and yttrium (Y) (https://en.wikipedia.org/wiki/Rare-earth_element)
Lithium batteries generally require elements such as: Lithium, graphite (carbon), Nickel, Cobalt, Manganese, Aluminium, Oxygen.
None of these are rare earth minerals, and production of most of these elements is not concentrated in China. See https://electrek.co/2016/11/01/breakdown-raw-materials-tesla...
The powerful permanent magnets used in some EVs do require rare earth elements (e.g. neodymium), but many EV motors don't require permanent magnets at all. E.g. Tesla uses an induction motor (no permanent magnet required); whereas the Nissan Leaf does use permanent magnets (assuming https://en.wikipedia.org/wiki/Electric_vehicle#Electric_moto... is correct).
https://www.statista.com/statistics/264930/global-cobalt-res...
The Congo appears to have as much reserves as the rest of the world combined! If demand goes up prospecting will go up.
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