No rare-earth magnets! Can an Indian startup challenge China's dominance?
On July 14, Indian media reported that Vimag Labs, a startup based in Bangalore, has developed a magnet-free motor capable of potentially transforming the global electric vehicle (EV) industry and challenging China's dominant position in the rare-earth supply chain. Currently, China controls about 90% of global rare-earth processing capacity and nearly 94% of the market for permanent magnets (neodymium-iron-boron magnets) used in EV motors, making the global EV sector highly dependent on Chinese exports. However, Vimag Labs takes a different approach by replacing permanent magnets with a software-defined magnetic system driven by advanced algorithms, copper windings, and electronic components.
Magnet-free motors—such as switched reluctance or synchronous reluctance motors—are not new to India; several countries have already achieved mature research and real-world applications in vehicles. This startup is still at the prototype stage and has not yet achieved large-scale production or widespread integration. Even if magnet-free motors are successfully implemented, sectors like wind power generation, energy storage, and defense still heavily rely on rare-earth permanent magnets, meaning China’s overall leadership in the rare-earth industrial chain cannot be fundamentally undermined.
Thus, the Indian media report appears to exaggerate the situation. No wonder local netizens remain skeptical about whether this startup can actually achieve its ambitious goals…
Original article: toutiao.com/article/1870650907328647/
Disclaimer: The views expressed in this article are solely those of the author.