GM, Stellantis invest in EV magnet startup to reduce reliance on China
DETROIT, Michigan: As part of a plan to develop electric vehicle (EV) magnets without rare earths, as the auto sector aims to reduce its reliance on China, this week, General Motors (GM) and Stellantis said they would invest in the startup, Niron Magnetics.
The two automakers joined Minneapolis-based Niron's latest US$33 million funding round and plan to jointly help develop permanent magnets built without rare