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<\/p>\nIf the ultimate goal of electric vehicles is cleaner transportation in the future, there\u2019s more at stake than just tailpipe emissions. You also have the minerals used to create EV batteries and electric motors, many of which are mined and refined in a less-than-green fashion \u2013 or are located in a country that\u2019s not exactly friendly with the United States. Some of those challenges are exactly what General Motors hopes to overcome with a new partnership with a U.S. startup that seeks to make more \u201csustainable\u201d magnets within electric motors.<\/p>\n
GM today announced a deal with Minneapolis-based Niron Magnetics to develop and scale what the latter company claims is the world\u2019s \u201cfirst and only permanent magnet with automotive-grade power that is entirely free from critical materials.\u201d Both companies say the technology represents a way to make a key component for electric motors that replace the rare-earth minerals used in most magnets currently.\u00a0<\/p>\n
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via Niron Magnetics<\/p>\n
\u201cThese rare earth minerals are difficult to obtain, and in addition to being expensive, are almost entirely produced overseas,\u201d said Kai Daniels, Supervising Principal at GM Ventures, the automaker\u2019s future-tech capital arm investing in Niron Magnetics. \u201cThus, permanent magnet design is a great opportunity for us to reduce our costs and environmental impact of our EV motors while also localizing our EV supply chain in North America.\u201d<\/p>\n
Daniels added that the magnets under development are based on iron nitride, \u201cwhich is an abundant, affordable and sustainable material which has great potential for commercial use a future EVs.\u201d\u00a0<\/p>\n
Jonathan Rowntree, CEO of Niron Magnetics, said the company has 60 employees but hopes to double that by this time next year. He and GM officials declined to specify the amount the automaker is investing in the startup but said that development will take place across both companies.\u00a0<\/p>\n
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via Niron Magnetics<\/p>\n
\u201cPermanent magnets are the unsung heroes and essential components of countless parts of your vehicle, including speakers, motors, pumps and compressors,\u201d Rowntree said. \u201cWhere they have the greatest impact for GM is in the drivetrains of their future EVs.\u201d\u00a0<\/p>\n
Within electric motors, permanent magnets \u2013 so named because they generate a constant magnetic force \u2013 are a key component for turning electricity into mechanical energy.\u00a0<\/p>\n
\u201cThis new round of funding will advance the commercialization of Niron\u2019s Iron Nitride-based Clean Earth Magnets, which are environmentally sustainable, globally manufacturable, and made from stable supply inputs. Further, Niron\u2019s alternative to rare-earth magnets promises<\/p>\n
improved temperature stability compared to other options currently available on the market, which is critical for automotive use,\u201d the company said in a news release. It has also attracted investment from Volvo Cars and Stellantis.\u00a0<\/p>\n
But Rowntree said that today, roughly 90% of permanent magnet development is dependent on China, which alone is an issue for automakers trying to scale up their EV supply chains without relying on a country whose relations with the U.S. are frosty on a good day. Indeed, provisions in the Inflation Reduction Act mean that automakers\u2019 tax credits will be heavily restricted if they depend on batteries, battery components and minerals from China \u2013 something that\u2019s expected to become especially contentious in the next few months. Moreover, Rowntree said that Niron Magnetics\u2019 approach \u201callows for manufacturing in the US and elsewhere globally, by using abundant and sustainable raw materials, with no need for new rare earth mines.\u201d<\/p>\n
While this may not be the most exciting announcement GM has ever made, it\u2019s some proof that the automaker is far from done with electric vehicle development \u2013 and may even feel timed to counter recent negative headlines about its EV growth.\u00a0<\/p>\n
The past few quarters have not been great for GM\u2019s EV dreams, as it has continually struggled to put its Ultium-platform electric cars on the road at any meaningful scale. Recently, it has announced delays to future battery plants (also citing costs from the United Auto Workers\u2019 strikes), abandonment of a joint venture with Honda to build affordable EVs, and walking away from a goal to build 400,000 EVs in North America by mid-2024.<\/p>\n
In a press briefing this week, GM officials seemed adamant that its future was indeed electric, and the investment into Niron Magnetics seemed poised to drive that point home.\u00a0<\/p>\n
\u201cAt GM, we believe in an all-electric, zero-emissions future and we want to see everyone driving an EV,\u201d Daniels said. \u201cIn order to make EVs more accessible, it’s critical we provide an EV portfolio that’s broad to meet everyone’s needs.\u201d\u00a0<\/p>\n
At the same time, GM and Niron Magnetics officials repeatedly declined to say when these \u201cclean earth magnets\u201d may make their way to future GM EVs \u2013 many of which have seen significant delays in production.\u00a0<\/p>\n
\u201cGM\u2019s commitment to our EV strategy is as strong as ever, and we’re excited about this investment to continue down that path,\u201d Daniels said.<\/p>\n