London, 08 November 2023, (Oilandgaspress) – GM is deeply committed to an all-electric future, and to make that future a reality, we’re focused on developing a broad portfolio of affordable and sustainable electric vehicles. EV motors are a key element of our Ultium Platform — their magnets present a great opportunity to reduce cost and environmental impact compared to traditional magnet materials, while localizing our EV supply chain in North America.
The permanent magnets in EV motor rotors are typically made from rare earth minerals like terbium, dysprosium, praseodymium and neodymium, which are expensive and currently processed almost entirely overseas.
Niron Magnetics of Minneapolis has developed the world’s first and only permanent magnet with automotive-grade power that is entirely free from critical materials, including rare or heavy rare earth minerals. Niron’s proprietary Clean Earth Magnet® technology is based on iron nitride, an abundant and affordable material with great potential for commercial use in future EVs.
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