forbes.com

Honda Invests in Niron Magnetics for Rare-Earth-Free Magnetic Tech

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Honda invested in Minneapolis-based Niron Magnetics through Honda Xcelerator Ventures, backing rare-earth-free permanent magnet technology for next-generation motors. The partners said the funding supports commercialization and scaling of manufacturing amid the auto industry’s shift toward EVs, where rare earth inputs for magnets and batteries face constraints and price volatility. Honda has pulled back from its EV plan but signaled continued interest.

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