m\'bishi, daido steel to jointly make magnets for eco-friendly cars.
TOKYO, Nov. Mitsubishi Corporation, Japan Dow steeland U. S. Rare earth production company. A factory will be jointly established in Jifu County to produce nd magnets, a key strong magnet for the production of eco-Motors The three companies said on Tuesday that their cars were friendly. The plant, which is scheduled to start operations in 2013, will adopt a technology that significantly reduces the use of rare earths, which has risen due to China\'s export controls and the world\'s largest producer of rare earths A joint venture will be set up by the end of this year for the manufacture and marketing of magnetic materials. It will be 35. Daido and 34 have a 5% stake. Mitsubishi holds 5%, they added, and the remaining 30% hold byMolycorp. The plant will have an annual production capacity of 500 tons. Due to increased sales of hybrids and other eco-friendly products, demand for magnets made of rare earths is expected to growfriendly cars.