There's platinum hidden in your car

Who'd think that thieves would steal catalytic converters

Guess how much platinum there is in a Volkswagen Passat diesel? If you said $238 worth, you'd be right.

Nanostellar is trying to reduce it. The company, which focuses on car emissions, has produced a platinum alloy that can substitute for the pure material inside catalytic converters, according to CEO Pankaj Dhingra. Recently, it began production of 250 kilograms a week.

Platinum sprinkled in the catalytic converter captures gases like carbon monoxide and turns them into less dangerous compounds, such as carbon dioxide. But platinum costs a lot. Nanostellar's particles can cut around $56 to $117 out of the platinum budget and cut down on emissions.

Crooks have also been stealing catalytic converters for the platinum lately. The stuff sells for $1,100 an ounce, after all. Nanostellar is trying to land deals with automakers, but its materials will end up in aftermarket converters in the relatively near future.

(Photo: Nanostellar)

Featured Video
This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

Is 'Chipgate' the new iPhone controversy?

We survived "Bendgate" with the iPhone 6 -- is it "Chipgate" for the iPhone 6S? Plus, you can expect the new iPad Pro and Apple TV by early November.

by Brian Tong