Automotive

European Auto Industry Seeks Resource Independence

Europe's mom just told it “we got rare earth metals at home.”
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European Auto Industry Seeks Resource Independence

In the first deal of its kind, a company in the European auto sector has signed an agreement to source rare Earth materials from Europe. German auto parts supplier, Schaeffler, has signed a five-year deal with Norway's REEtec for rare earth oxides. 

Homegrown. European sourcing pushes to reduce dependencies on Chinese imports and increase materials production in lesser invested regions.

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