APAC automotive sensors market to record 1.7% CAGR over 2023-28: GlobalData, ET Auto

GlobalData’s latest report “Global Sector Overview & Forecast – Sensors,” reveals that the APAC automotive sensors market is estimated to reach 7.6 billion units in 2023 and 8.3 billion units in 2028. New Delhi: Vehicle electrification and hybridization, alliances and collaborations among industry players, and rising consumer disposable income have indirectly stimulated the demand for…

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GM invented rare-earth magnets but hopes to purge them from EVs

Nearly 40 years ago, General Motors invented the rare-earth magnet and thus laid the foundation for modern electric motors. But now the automaker is moving on to a different technology. GM recently announced a partnership with Niron Magnetics, a Minnesota-based company that claims to have developed automotive-grade permanent-magnet motors without the rare-earth materials used in…

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