GM has invested an unspecified amount in EV rotor permanent magnet maker Niron Magnetics, as well as launching a strategic partnership with the magnet manufacturer as The General expands its North American electric vehicle supply chain.
The investment will help Niron Magnetics increase the scale of its magnet production, according to GM.
The “Clean Earth Magnets” made by Niron utilize iron nitride, which is cheap and readily available. Most current EV rotor permanent magnets currently use rare earth minerals, which are expensive and are only available internationally. With no current U.S. source, rare earth magnets made with “terbium, dysprosium, praseodymium and neodymium” present supply chain and critical materials problems.
Niron’s use of iron nitride will enable sourcing the permanent magnets for GM EVs entirely in the U.S., strengthening the domestic supply chain. The GM Ventures president Anirvan Coomer remarked that “Niron’s unique technology can play a key role in reducing rare earth minerals from EV motors.”
Niron CEO Jonathan Rowntree pointed out an interesting historical tidbit by remarking “GM invented rare earth permanent magnets nearly 40 years ago.” He also said that “we think that our Clean Earth Magnets can help GM in its goal to put everyone in an EV.”
The General is working to develop a robust manufacturing base for EV magnets by allying with a number of different companies. It took a major step in that direction almost two years ago in December 2021 when it partnered with German magnetic alloy manufacturer Vacuumschmelze (VAC) to construct a new magnet factory in America. VAC was recently acquired by Ara Partners, though this has not disrupted plans for collaboration with GM on magnet production.
The automaker also has an agreement with MP Materials, a company operating the only rare earth mining operation in the USA at its Mountain Pass, California site. The two have a definitive supply agreement, and MP Materials will not only extract rare earth minerals and sell them to GM, but make magnets at a Fort Worth, Texas plant.
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