Tesla Model 3 and other electric cars are driving up demand for a metal called neodymium and China controls the world's supply

7:30 AM ET Fri, 19 Oct 2018

Powerful magnets are necessary for an iPhone to vibrate or a Tesla Model 3's motor to spin. If you combine neodymium with iron and boron, you can make a neodymium-iron-boron magnet, which is the most powerful type of permanent magnet ever created. And demand for these magnets is on the rise. But 80 percent of the world's neodymium comes from China.