Lower EV demand + or - for Permanent magnet demand ?

[Sparty]

I asked Gemini AI after reading Investornews' article "Jack Lifton Debunks Market Myth: Lower EV Demand Doesn’t Correlate with Permanent Magnet Demand" @

Gemini Does Lower EV Demand equate to Permanent Magnet Demand

Gemini's Answer: No, lower EV demand does not necessarily equate to lower permanent magnet demand.
Here's why:

Hybrids still use permanent magnets: Even if pure electric vehicle (EV) sales dip, hybrid electric vehicles (HEVs) are still expected to be popular. HEVs also rely on permanent magnet motors for their electric drive systems https://www.idtechex.com/en/research...al-costs/28314.

Other applications: Permanent magnets are used in various industries beyond electric vehicles, including wind turbines, hard drives, and medical devices. A slowdown in EVs might affect demand somewhat, but not entirely.

So, while lower EV sales could impact permanent magnet demand, it's not a one-to-one correlation. The overall demand for permanent magnets likely depends on the combined health of these various sectors.