Honda Motor Invests in Niron Magnetics as Iron Nitride Enters Automotive Supply-Chain Race

Highlights

• Honda has invested in Niron Magnetics, joining GM Ventures, Stellantis Ventures, Volvo Cars Tech Fund, and Magna as strategic backers.
• Niron is building a 1,500-ton-per-year iron-nitride magnet plant in Sartell, Minnesota, scheduled to operate in 2027.
• Iron-nitride magnets contain no NdPr, dysprosium, or terbium, offering automakers a rare-earth-free permanent magnet alternative.
• A second U.S. plant targeting 10,000 tons per year and up to $1.8 billion in investment is in site selection.
• Automakers are assembling a portfolio of supply-chain escape routes including magnet-free motors, ferrite designs, and now iron nitride.