{"id":2093999,"date":"2023-11-08T13:46:02","date_gmt":"2023-11-08T18:46:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/big-automakers-cut-deal-with-startup-to-boost-ev-production-without-chinas-help\/"},"modified":"2023-11-08T13:52:49","modified_gmt":"2023-11-08T18:52:49","slug":"big-automakers-cut-deal-with-startup-to-boost-ev-production-without-chinas-help","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/big-automakers-cut-deal-with-startup-to-boost-ev-production-without-chinas-help\/","title":{"rendered":"Big automakers cut deal with startup to boost EV production without China&#8217;s help"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbig-automakers-cut-deal-with-startup-to-boost-ev-production-without-chinas-help%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2093999&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>GM and Stellantis Invest \u2064in Niron Magnetics to Find Alternatives to Rare\u200c Earth Minerals in EV Production<\/h2>\n<p>In a bid to discover alternatives to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dem-congressman-who-pushed-china-divestment-kept-his-own-chinese-investments\/\" title=\"Dem Congressman Who Pushed China Divestment Kept His Own Chinese Investments\">rare earth minerals<\/a> in the production \u2063of electric vehicles, General Motors and Stellantis are investing in Niron Magnetics, a Minnesota-based company \u2062specializing in magnetic technology\u200c for \u200dEV motors.<\/p>\n<p>The two automakers have contributed to Niron&#8217;s\u2063 latest \u2062$33 million funding round, which will be used to advance the commercialization of Niron&#8217;s iron nitride-based Clean Earth\u200b Magnets.<\/p>\n<h3>Three Key Takeaways from a Pivotal 2023 Election for the GOP<\/h3>\n<p>China currently dominates battery production, with car manufacturers heavily reliant on China&#8217;s rare\u2062 earth \u2063materials \u2062such as terbium, dysprosium, praseodymium,\u200d and\u2062 neodymium, \u2062which are widely used in EV\u2063 batteries.\u2064 However, Niron is focusing on permanent \u200cmagnets and believes that iron nitride magnets are not only more magnetic than those made of neodymium \u2062and praseodymium, but also more\u200d abundant.<\/p>\n<p>&#8220;We were drawn to invest\u200d in Niron by the impressive sustainability benefits that its Clean Earth Magnet technology\u2064 offers for vehicles and \u2063the inherent scalability of their solution,&#8221; stated Adam Bazih, managing partner at Stellantis\u2062 Ventures. &#8220;Making powerful magnets \u2063from plentiful commodity materials decouples new production from rare earth mine development and lowers overall \u2063environmental impact, which directly aligns with Stellantis&#8217; commitment to reach carbon net zero by 2038.&#8221;<\/p>\n<p>The exact investment\u200b amounts by GM and Stellantis have not been \u2062disclosed, but the companies have announced plans to collaborate on\u200c the development of\u200c EV magnet motor\u2064 technology. According to \u2063Reuters, a source close to the deal revealed that GM invested $7 million,\u2064 while Stellantis \u2064invested $5\u2062 million.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\">Click here<\/a> to read more from The Washington \u200bExaminer.<\/p>\n<p>Kai Daniels, supervising\u200d principal of GM Ventures, emphasized that this investment will play a crucial role in\u2063 establishing a North American EV supply chain for the company, a key requirement \u2062for vehicles to\u2064 be eligible for U.S. federal tax credits.<\/p>\n<p>In mid-October, GM announced a delay in the \u200dproduction start of electric trucks from 2024 to late 2025, citing the need to prioritize capital investments due to the \u200bhigh demand for EVs. The company clarified that the delay was unrelated to the United Auto Workers strike, as GM and the UAW\u2064 reached\u200b a\u2064 tentative agreement two\u2063 weeks ago, signaling an end to\u2064 the strikes against Detroit\u200c automakers.<\/p>\n<p> <\/p>\n<h2> What <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/greta-thunberg-is-wrong-americans-should-be-first-in-line-for-american-made-vaccines\/\" title=\"Greta Thunberg Is Wrong. Americans Should Be First In Line For American-Made Vaccines.\">long-term goals<\/a> \u200bdo \u2063General Motors and \u2062Stellantis\u2062 hope to achieve \u200bby supporting the development and commercialization of \u2062iron nitride-based magnets<\/h2>\n<p><span>  Ates the production of rare earth minerals, which are crucial\u200c for the manufacturing of electric vehicle \u2064components. \u2063With\u200b increasing demand for EVs, there is a growing concern about the limited supply \u200dof these minerals and the dependence on China for \u200ctheir availability. As\u2064 a result, major automakers like GM and Stellantis are actively\u200c seeking alternative solutions \u200cto reduce their reliance on rare earth minerals.<\/p>\n<p>Niron Magnetics has emerged as a promising player in this arena with its\u2062 innovative technology. The company\u2063 has developed iron nitride-based\u200d Clean Earth Magnets\u200d as an alternative to rare earth\u200b magnets, which \u200care widely used\u2062 in electric vehicle motors. These magnets provide comparable performance\u2063 and can \u200bbe produced using abundant and \u2064geopolitically stable materials, thus reducing\u2063 the dependency on rare earth minerals.<\/p>\n<p>Recognizing the potential of Niron&#8217;s technology, General Motors and Stellantis \u2063have made significant investments in the company. \u200cBy contributing to Niron&#8217;s latest funding round, these\u2064 automakers \u2063aim \u2062to support \u200dthe development and commercialization of iron nitride-based magnets. This strategic partnership\u2062 not only highlights the commitment of\u2064 GM\u2062 and Stellantis to sustainability\u2063 but also signifies their determination to find sustainable solutions for EV production.<\/p>\n<p>The \u2062investment\u2063 in Niron Magnetics is a significant step towards achieving a more sustainable and \u200dresilient \u2062supply chain for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-pushes-for-50-percent-electric-vehicle-sales-by-2030\/\" title=\"Biden Pushes for 50 Percent Electric Vehicle Sales by 2030\">electric vehicle manufacturers<\/a>. By reducing their reliance on \u2064rare earth minerals, automakers can \u2064diversify their sourcing \u200cstrategies and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/big-automakers-cut-deal-with-startup-to-boost-ev-production-without-chinas-help\/\" title=\"Big automakers cut deal with startup to boost EV production without China's help\">mitigate potential supply chain disruptions<\/a>. Additionally, the production of iron \u200bnitride-based magnets could have positive environmental implications, as it\u2063 eliminates the need for environmentally damaging mining practices associated with rare earth minerals.<\/p>\n<p>Furthermore, this collaboration reflects the broader industry-wide efforts to\u200b address the environmental challenges posed by \u200delectric \u200dvehicle production. As the demand\u2064 for EVs continues to rise,\u2064 it becomes \u2063essential to find alternatives that not only meet performance requirements but \u2062also adhere\u2064 to sustainable practices. The investment in Niron Magnetics\u2062 aligns with the automakers&#8217; long-term goals of reducing their \u200ccarbon footprint and transitioning\u2062 towards a \u2062greener\u200b future.<\/p>\n<p>In conclusion, the \u200dinvestments by General Motors and Stellantis in Niron Magnetics highlight the ongoing efforts of major \u2062automakers to find alternatives to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/i-rented-a-tesla-for-a-week-and-am-totally-sold-on-gas-powered-cars\/\" title=\"Rented a Tesla, now hooked on gas-powered cars.\">rare earth \u2064minerals<\/a> in electric vehicle production. By supporting\u2063 the development and commercialization of iron nitride-based magnets, these companies aim to reduce \u200ctheir \u2062dependency on China and enhance the sustainability of their supply \u200bchains. This investment not only signifies a significant milestone in the\u2064 search\u2064 for sustainable solutions but also emphasizes the industry&#8217;s commitment to a greener future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an effort to find alternatives to rare earth minerals in electric vehicle production, the venture arms of General Motors and Stellantis are investing in Niron Magnetics, a Minnesota-based company specializing in magnetic technology for EV motors. The two automakers invested in Niron\u2019s latest $33 million round of funding that will be used to advance<\/p>\n","protected":false},"author":1,"featured_media":2094000,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2093999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2093999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2093999"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2093999\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2094000"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2093999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2093999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2093999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}