The National Institute for Materials Science (NIMS) announced that its Magnetic Materials Center developed a method for increasing the coercivity of neodymium magnet powder without using dysprosium (hereinafter, Dy). Dy is a heavy rare earth element that is normally essential for achieving high coercivity in neodymium magnets for traction motors of hybrid vehicles (HV). NIMS says that this technology developed led to an increase in coercivity of more than 20% without using any heavy rare earth elements such as Dy.
According to the NIMS' press release, 90% of Dy is almost dominantly produced in PRC. Hopefully, this technology will relieve us from the absolute dependency on the single country at least.
Source: NIMS Press Release