General Motors has partnered with a Wisconsin-based start-up, Niron Magnetics, to collaborate on the development of electric motor magnets. These magnets will be designed to eliminate the need for rare elements, which are predominantly sourced from China, in their production. In electric vehicle motors, magnets consisting of "rare Earth minerals" like terbium and dysprosium are used to create rotating magnetic fields.
China is a major contributor to the global supply of rare Earth minerals, as stated by the United States Geological Survey. Additionally, Niron reveals that China holds a 90% responsibility for the production of minerals utilized in EV motor magnets. As a solution to the potential importing issue, Niron Magnetics, a company based in Wisconsin with a 60-person team, asserts that they have developed patented techniques to manufacture high-performance magnets solely utilizing iron and nitrogen, elements that are easily obtainable without the need for importation.
Niron chief executive Jonathan Rowntree stated that apart from geopolitical concerns related to importing minerals from China, which is currently in tense relations with the US, the utilization of more readily available elements will greatly diminish the environmental consequences of mining and processing. He also mentioned that this technology could potentially lower the cost of EV motors, although he did not disclose the exact percentage. In agreement, Kai Daniels, the supervising principal of GM Ventures, GM's venture capital arm, expressed that their teams will collaborate in developing iron nitride motor magnet technology for future GM EVs.
Niron also acknowledged Stellantis Ventures and Volvo Car Tech Fund as investors. Stellantis, the parent company of auto brands like Chrysler, Dodge, Jeep, and Fiat, was among the investors.
Though the exact amount invested by GM remains undisclosed, the total investment, including contributions from other entities such as the Shakopee Mdewakanton Sioux Community and the University of Minnesota, amounted to $33 million, as stated by Niron.
Nirons' magnet technology is versatile and can find applications in consumer electronics and automotive parts like fuel pumps and air circulation units. Rowntree mentioned that consumer electronics will likely be the first commercial use. Additionally, GM sees its investment as a way to create a domestic supply base for electric vehicles. Daniels emphasized that GM's commitment to sell only electric passenger vehicles in the US by 2035 remains unchanged.
Daniels would not say when GM expects to begin manufacturing EV motors using the new magnet technology.