Recent research has shown a new theory for developing more effective and low-cost rare earth magnets. These magnets, which are used in a variety of applications from consumer electronics to electric vehicles, are typically made with expensive rare earth elements. The new theory proposed by researchers from the University of Science and Technology of China is that by replacing some of the rare earth elements with more affordable alternatives, the magnets can be just as powerful and reliable. This new development has the potential to significantly reduce the cost of production for rare earth magnets, while at the same time increasing their effectiveness.

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source: Phys.org