Rare Earth Elements

Ahmad explains the critical role of rare earth elements in the production of permanent magnets, highlighting that 40% of these elements are dedicated to this application. He emphasizes the immense dollar value tied to just a handful of elements, such as neodymium and dysprosium, which are essential for creating high-performance magnets used in electric vehicles. The discussion raises important questions about the necessity of these elements and potential alternatives in the context of energy transition.