Can Bengaluru Start-Up's 'Virtual Magnet' Replace China's Rare-Earth Magnets?

As India accelerates its transition to electric mobility, one of the biggest challenges facing the electric vehicles (EV) industry is its dependence on rare-earth magnets, nearly all of which are processed and supplied by China. Bengaluru-based deep-tech company Vimag Labs claims to have developed a breakthrough technology that could change that.In an exclusive interview with NDTV, Vimag Labs Co-Founder and CEO Manish Seth spoke about the company's patented "Virtual Magnet" technology, how it works, its commercial rollout plans, and why the company believes it can match or even outperform traditional permanent magnet motors without using any rare-earth materials.NDTV: Vimag Labs claims to have developed a technology that eliminates the need for rare-earth magnets in EV motors. How does it work?Manish Seth: We actually have physical products undergoing testing and getting ready for deployment. We invented what we call the 'Virtual Magnet'.