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☆ With big new EV motor investment, GM aims to cut reliance on China
▼ + stars: | 2023-11-08 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

In electric vehicle motors, rapidly shifting magnetic fields spin a rotor made with magnets that contain “rare Earth minerals” such as terbium and dysprosium. China accounts for a large percentage of the world’s rare Earth minerals supply, according to the United States Geological Survey. And among those minerals used for EV motor magnets, China is responsible for about 90%, according to Niron. The technology could also make EV motors less expensive, he said, but declined to say by what percentage. Daniels would not say when GM expects to begin manufacturing EV motors using the new magnet technology.

Persons: Niron, Niron Magnetics, Jonathan Rowntree, GM EVs, ”, Kai Daniels, Stellantis, Rowntree, Daniels Organizations: New, New York CNN —, Motors, United States Geological Survey, GM, GM Ventures, Stellantis Ventures, Volvo Car Tech Fund, Chrysler, Dodge, Fiat, Sioux Community, University of Minnesota Locations: New York, Wisconsin, China, dysprosium, Minnesota, Sioux

☆ GM, Stellantis invest in EV magnet startup in move to reduce China reliance
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +3 min

[1/2] The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Today, roughly 90% of the rare-earth magnet supply is dependent upon China." "There's a lot of manufacturing steps and a lack of price transparency in this industry with rare earths, given the concentration of supplies in China," Niron Senior Director Tom Grainger said. The deal comes despite GM's 2021 agreement to buy rare-earth magnets from MP Materials (MP.N). MP has struggled to refine its own rare earths in California, but has been building a magnet facility in Texas.

Persons: Rebecca Cook, Jonathan Rowntree, Anirvan Coomer, Adam Bazih, Niron, Tom Grainger, Nathan Gomes, Ernest Scheyder, Ben Klayman, Matthew Lewis Organizations: General Motors, REUTERS, GM, Stellantis Ventures, Materials, Thomson Locations: Detroit , Michigan, U.S, China, Minneapolis, California, Texas, Bengaluru, New York

☆ First on CNN: GM investing in mushroom leather startup
▼ + stars: | 2022-10-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

CNN Business —General Motors’ venture capital arm has invested in a California startup that’s making imitation leather from mushrooms. It could provide an alternative to both traditional leather made from animal skins, usually cattle, and artificial leather made from plastics. The resulting material feels like leather, has similar durability and can be colored using processes that do not involve harmful substances, just as animal-based leather can. Using various processes company representatives declined to discuss, the mycelia are made to interweave as they grow, forming the leather-like material. MycoWorks and GM Ventures both declined to say how much GM Venture is investing.

☆ Here's the 28-page pitch deck that landed battery startup OneD a $25 million Series C to help power GM's $35 billion pivot to electric cars
▼ + stars: | 2022-10-13 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

OneD is a battery startup racing to improve EVs' battery range, cost, and charging speed. Check out the 28-page pitch deck it used to raise a $25 million Series C round. Founded in 2013, OneD Battery Sciences is laser-focused on that. OneD also plans to license this tech to automakers and their battery manufacturers and has a small-scale pilot line going. Pluvinage shared the pitch deck OneD used to pitch its vision.

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