Toyota Forms Rare-Metals Team Amid China Export Ban
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Toyota Motor Corp. has set up a task force on rare earth minerals used in hybrid cars amid reports of China’s ban on exports of the materials to Japan.
The carmaker, the world’s largest producer of gasoline- electric vehicles, said it formed the committee, confirming a report in the Nikkan Kogyo newspaper today. Japanese companies are looking to diversify supply with Lynas Corp., a Sydney-based miner of rare earth metals, saying it had signed a contract with an unnamed Japanese customer.