Then there is the challenge of the recent UAW strike, in which GM lost hundreds of millions of dollars. The long-term impact is expected to cost billions, so we might see changes in pricing for current and upcoming EVs under GM to make up for the losses. Another issue is the brand’s underlying shortage of batteries for its EVs.
With all that being said, GM and Niron Magnetics might want to get on with their project to finally make EVs more attainable. The most affordable GM electric car remains the Chevrolet Bolt EV, which starts at $26,500. The current model year is on its way out, but a replacement is underway, and it’s interesting to see whether the second-gen can retain the relatively low price point.
“GM invented rare earth permanent magnets nearly 40 years ago, and now we’re working together to bring the next generation of automotive magnet technology to market,” said Jonathan Rowntree, CEO of Niron Magnetics. “We think that our Clean Earth Magnets can help GM in its goal to put everyone in an EV.”
