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Toyota (TM +0.2%) believes it is near a breakthrough in developing electric motors for hybrid...
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Friday, January 14, 2011, 9:47 AM ETToyota (TM +0.2%) believes it is near a breakthrough in developing electric motors for hybrid cars that eliminates the use of rare earth metals, whose prices have risen sharply in the past year as China restricted supply. Rare earth names pull back: AVL -4.4%, MCP -3.8%, SHZ -3.5%, REE -3.4%.
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Toyota's hybrid motor is likely the most cited/popular example of rare earths in consumer products so I guess it had to make a statement about it, but I hardly see this a big deal.