Japan's Honda Motor said on Wednesday it has invested in U.S. startup Niron Magnetics, which is commercializing rare-earth-free permanent magnets. Both companies declined to disclose the size of the investment or its intended use. Niron, based in Minneapolis, said the investment is not part of a financing round and that it makes magnets from iron and nitrogen rather than rare-earth elements.

2026-09-09

Japan's Honda Motor said on Wednesday it has invested in U.S. startup Niron Magnetics, which is commercializing rare-earth-free permanent magnets. Both companies declined to disclose the size of the investment or its intended use. Niron, based in Minneapolis, said the investment is not part of a financing round and that it makes magnets from iron and nitrogen rather than rare-earth elements.