FILE - The General Motors logo is seen, Jan. 27, 2020, in Hamtramck, Mich. The venture capital arms of General Motors and Stellantis are among investors sinking $33 million into a Minnesota company with technology to make magnets for electric vehicle motors without using expensive rare-earth metals. FILE - A Stellantis logo is shown at the North American International Auto Show, Sept. 13, 2023, in Detroit.
“I can tell you today that GM’s commitment to our EV strategy is as strong as ever,” she told reporters.Auto strike settlements will raise costs for Detroit’s Big 3. Will they be able to raise prices?the start of electric pickup truck production at a factory north of Detroit. Ford is pushing back $12 billion of EV investment including postponing construction of one of two new EV battery factories in Kentucky.
Niron Magnetics CEO Jonathan Rowntree said testing shows that the company’s magnets work, and the agreement with GM will help the company start large-scale manufacturing.