Car makers 'in full panic' over rare-earths shortage amid China's export controls

Auto industry concerned China's tight export controls on rare-earth magnets — crucially needed to make cars — could cripple production 

Cars today use rare-earths-based motors in dozens of components — side mirrors, stereo speakers, oil pumps, windshield wipers, and sensors for fuel leakage and braking sensors. File picture

Frank Eckard, chief executive of a German magnet maker, has been fielding a flood of calls in recent weeks. Exasperated car makers and parts suppliers have been desperate to find alternative sources of magnets, which are in short supply due to Chinese export curbs.

Some told Eckard their factories could be idled by mid-July without backup magnet supplies.