Permanent magnets serve a growing but unseen function in modern technology. Permanent-magnet motors transfer energy to motion and power everyday gadgets such as computers, appliances, and vehicles.
Magnets consisting of rare-earth elements (such as NdFeB magnets) are the most commonly employed for high-performance applications. However, the mining, extraction, and manufacturing processes are labor-demanding, costly, and environmentally harmful. Prices for these resources have historically been volatile due to supply chain and geopolitical challenges, and they have risen in recent years.
Aiming to find a solution to this rising issue, automaker General Motors (GM) has now teamed up with US startup Niron Magnetics to further the development of the latter’s rare-earth-free permanent magnets. The partnership aims to address the most pressing issues associated with such permanent magnet motos, like rising prices, supply chain instability, environmental impact, and long-term availability concerns.
Permanent magnets in EV motor rotors are generally constructed of rare-earth minerals like terbium, dysprosium, praseodymium, and neodymium, which are costly and are now manufactured nearly completely overseas, primarily in China.
As the use of electric vehicles (EVs) grows, so do the obstacles. Rising magnet demand for EVs, wind turbines, and other applications is expected to cause shortages over the next five years, resulting in severe competition and even higher pricing.
Offering an alternative, Niron’s unique Clean Earth Magnet technology is based on iron nitride, a plentiful and inexpensive material with great economic promise in future EVs. The startup 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,” said a statement from GM.
