Honda invests in Minneapolis rare-earth-free magnet maker Niron
Honda Motor Co.'s Honda Xcelerator Ventures has invested in Minneapolis-based Niron Magnetics, the companies said, signaling a strategic bet on Niron's rare-earth-free magnet technology.[1]
Terms of the investment were not disclosed.[1] Niron is headquartered in Minneapolis.[1]
Niron received a $150 million federal loan last month to expand its Sartell, Minnesota, facility to roughly 287,000 square feet.[1] The company is weighing locations for a proposed 1.6 million-square-foot magnet plant, a roughly $1.8 billion project that could create more than 700 U.S. jobs.[1]
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📌 Key Facts
- Honda Motor Co.’s Honda Xcelerator Ventures has invested in Minneapolis-based Niron Magnetics; terms were not disclosed.
- Niron received a $150 million federal loan last month to expand its Sartell, MN facility to roughly 287,000 square feet.
- The company is weighing locations for a proposed 1.6 million‑square‑foot magnet plant, a $1.8 billion project that could create 700+ jobs in the U.S.
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September 09, 2026