Novares awarded 2nd prize at the Automobile Awards Ceremony in the Green Innovation Category. Each year, the AUTOMOBILE AWARDS intend to celebrate Innovation in a sector where it is a major importance but also to distinguish notions as pleasure, safety, respect of the environment.
Plasto Magnet has been awarded as one of Group’s pragmatic innovations that enables a sustainable electric motor. Thanks to its expertise, Novares developed multi-material magnets optimized and adjustable to applications in vehicles while reducing by at least 40% (possible up to 90%) the use of rare earths. With performances superior or equal to the market, this innovation creates multiple combinations and forms resulting from the association of recycled plastic and magnetic materials. It reduces CO2 emissions related to the manufacture of permanent magnets by 70%.
Novares’ strategy is built on the principle that plastic solutions will make vehicles lighter and greener. The Plasto Magnet is designed by R&D teams’ work, based on Powertrain product line. It will contribute to the development of the automotive industry, enabling cars to become cleaner, more connected and user friendly.
Novares group is a portfolio company of Equistone Partners Europe, with Bpifrance as second largest shareholder.
Headquartered in France, Novares is a global plastic solutions provider that designs and manufactures complex components & systems serving the future of the automotive industry. The company creates and produces cutting edge automotive solutions with technical plastic injection for cleaner, lighter, connected cars with intelligent and intuitive interfaces for all passengers.
Novares co-develops and provides engineering and manufacturing expertise to virtually every OEM in the world and many Tier-1 companies in the automotive market.
Novares being Inside one out of three vehicles produced worldwide, through revenues amounted to €1.1 billion in 2021, thanks to its presence in 22 countries, runs 40 Manufacturing Plants, 8 Skill Centers, 7 Technical Centers and 20 Customer Service Centers, around the globe to partner with customers.