Honda Invests in US Firm Niron Magnetics for Rare-earth-free Magnets

Honda Motor has invested in Niron Magnetics, a US company commercializing rare-earth-free Iron Nitride permanent magnets, the firms announced. The investment aims to support the development and production of magnets that do not rely on rare-earth elements, which are often subject to supply chain and cost challenges.

Niron Magnetics' technology uses iron nitride, a material that offers high magnetic performance without the need for rare-earth materials. Honda's involvement is part of its broader strategy to secure sustainable and cost-effective components