Stellantis Invests in Manufacturer of Rare-Earth-Free Magnets Niron
08 Noviembre 2023 - 11:22AM
Noticias Dow Jones
By David Sachs
Stellantis is part of the latest investment round for Niron
Magnetics, according to the U.S. manufacturer of magnets without
rare-earth materials.
Niron Magnetics said Wednesday that Stellantis Ventures, the
corporate investment arm of the Netherlands-based, multinational
car maker, is part of a $33 million funding round for the
Minnesota-based company.
Niron aims to mass produce iron-nitride magnets for the car
industry, as an alternative to magnets dependent on rare-earth
materials, it said.
Rare earths such as neodymium, dysprosium and terbium are used
in permanent magnets that are needed to help drive motors in
electric vehicles.
Stellantis didn't immediately respond to a request for comment,
but Stellantis Ventures lists Niron Magnetics on its website as an
investee.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
November 08, 2023 12:07 ET (17:07 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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