MINNEAPOLIS–(BUSINESS WIRE)–Nov 20, 2020–
Niron Magnetics, the company that has developed the world’s first advanced manufacturing process for the mass production of high performance, rare-earth free permanent magnets, today announced a partnership with Marquette University and General Motors to develop the next generation of electric vehicle drivetrains through a $5 million grant from the Department of Energy.
Demand for electric and hybrid vehicles continues to grow and new forecasts predict that they will account for an estimated 30% of all vehicle sales by 2025. However, the drivetrains traditionally utilized in EV and HV designs are powered by rare-earth materials, which are predicted to experience a shortage by 2030, hindering long-term growth potential.
Dr. Ayman El-Refaie, Werner Endowed Chair in Secure/Sustainable Energy and professor of electrical and computer engineering at Marquette University will serve as the lead on the three-year DOE Vehicle Technologies Office project that seeks to