The automakers joined Niron's latest $33 million funding round and plan to collaborate to help develop permanent magnets built without rare earths, a step...
- General Motors and Stellantis said on Wednesday they will invest in startup Niron Magnetics, part of a plan to develop electric-vehicle magnets without rare earths as the automotive industry aims to curb its reliance on China.
The move follows China's announcement in October that it would require export permits for some graphite products, which are also used in EVs, to protect national security. "Making powerful magnets from plentiful commodity materials decouples new production from rare earth mine development and lowers overall environmental impact," Stellantis Ventures managing partner Adam Bazih said.
More oil supertankers than ever are headed for the US to load up on crude for export as OPEC+ curbs supplyWestJet's new hiked-up baggage and seat selection fees come into effect Tuesday, just at the start of the holiday travel season. Emily Lazatin has the details of the extra charges.
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