Next Generation Vehicle Target is to halve the cost , bring down cost to $1000 for drive unit( motor ,inverter, controller etc) No rare earth Iron nitride Fe16N2 magnets, Niron magnetics. IEEE says such magnet above 10 MGOe will be introduced for loudspeaker in late 2024. 30 MGOe in 2025. NdFeB magnet s in automotive traction motor is now typically 35 MGOe. NEDO . Patent Iron Nitride magnets are not new, and lusted in Alibaba Reduce use of Silicon carbide MOSFET s, pros and cons Reduce working voltage down to 12 to 48 volt switch to In house manufacture and integrated controllers. Cost analysis of BEV is forecast to override ICE in 2030 Mass production target: late 2024-25 reference: rohm EETimes SiC vs GAN EEweb SiC in EVs Wiki Tetrataenite