GM aims to cut reliance on China with new EV investment

 

Iron nitrate produced by Niron Magnetics at the company's facility in Minneapolis.

General Motors has teamed up with Niron Magnetics, a small Wisconsin start-up, to develop electric motor magnets that can be made without rare earth elements, which today are mostly sourced from China.

In electric motors, rapidly moving magnetic fields spin a rotor made of magnets containing "rare earth minerals" such as terbium and dysprosium.

According to the US Geological Survey, China has a large percentage of the world's rare earth mineral supply. According to Niron, China is responsible for about 90% of the minerals used for EV motor magnets.

Niron Magnetics, a 60-person company currently based in Minnesota, claims to have patented methods for making high-performance magnets using only iron and nitrogen, easily accessible elements that don't need to be imported.

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Aside from geopolitical concerns about importing minerals from China, the United States, a country with which it currently has a strained relationship, will be able to significantly reduce the environmental impact of mining and processing by using more abundant and accessible elements, Niron CEO Jonathan Rowntree said. The technology could make EV motors cheaper, he said, but declined to say by what percentage.

"Our teams will co-develop iron nitride motor magnet technology that we plan to use in future GM EVs," said Kai Daniels, GM venture capital manager, GM Ventures.

Niron has named Stellantis Ventures and Volvo Car Tech Fund as investors. Stellantis owns Chrysler, among other car brands. Dodge, It is the parent company of Jeep and Fiat.

GM and Niron would not say exactly how much GM has invested in the company, but other investments such as the Shakopee Mdewakanton Sioux Community and the University of Minnesota total $33 million, Niron said.

Rowntree said Niron's magnetic technology could also be used in other applications, such as consumer electronics, where these may first appear commercially. The company said the magnets could also be used in other automotive components, including fuel pumps and air circulation units.

GM's investment is part of a strategy to build a domestic supply base for electric vehicles, Daniels said. GM has said it intends to sell only electric passenger cars in the U.S. by 2035, and she said that commitment has not changed.

Daniels did not say when GM expects to start producing EV motors using the new magnet technology.