Look ma, no magnets: How an Indian startup is using software to break China's rare earth monopoly Manish Seth, CEO and co-founder of Bengaluru-based Vimag Labs, faced a critical challenge in 2020 when a shipment of rare earth magnets for his startup’s prototype motors got stuck in a Shanghai port during the pandemic. The three-month delay prompted him to pivot toward developing a magnet-free motor solution, aiming to bypass China’s near-monopoly on rare earth materials. This breakthrough, now central to Vimag’s technology, seeks to redefine electric vehicle (EV) motor design by eliminating reliance on geopolitically volatile and environmentally hazardous rare earth minerals. The global EV industry has long depended on permanent magnets, particularly Neodymium-Iron-Boron (NdFeB) magnets, for high-performance motors. However, China controls approximately 90% of the world’s rare earth minerals and 94% of NdFeB magnet production, creating supply vulnerabilities. Export restrictions and price volatility—fluctuating by 30-80% in months—have left nations like India exposed to disruptions. Seth argues that alternatives such as AC induction motors or ferrite magnets fall short, offering lower efficiency and reduced range due to their inherent limitations. Vimag’s innovation replaces physical magnets with a “software-defined magnet” system. By using standard copper coils and steel, paired with custom algorithms and firmware, the startup generates magnetic fields dynamically through software and electronics. This approach eliminates the need for rare earth materials entirely. The motor’s firmware manages power transfer wirelessly, mimicking the performance of traditional Permanent Magnet Synchronous Motors (PMSMs) while avoiding the physical degradation risks of conventional magnets.#bengaluru #shanghai #manish_seth #vimag_labs #rare_earth_minerals
