These magnets Fe16N2 have been around for over 75 years. Problem...

These magnets Fe₁₆N₂ have been around for over 75 years. Problem has been to produce the crystalline structure needed for the magnets. Up till now only very small magnets have been made in lab at very high cost.

Will it happen? only time will tell. First application is supposably going to be things like earbuds next year. I would never declare a LAB experiment as the next bast thing. Here are a few high lights from article but you should not trust me read it yourself

1. There have been iron-nitride "soft magnets" in use for some time, but these don't work for motors, wind turbines, and audio speakers.
2. You might expect a simple iron magnet to play second fiddle to the fancy rare-earth ones, but Niron Magnetics claims its iron-nitride permanent magnets are 50 percent stronger than the neodymium-iron-boron magnets they intend to replace, with a magnetic flux density of 2.4 Teslas, to Nd2Fe14B's 1.6 Teslas.
3. Niron Magnetics' web site quotes a cost savings of about 50 percent,
4. Another benefit of this new permanent magnet chemistry is a wide range of temperature tolerance, which promises to reduce cooling requirements for automotive fitments.its Clean Earth Magnets have 75 percent lower environmental impact than rare-earth-based magnets.

article New Made-in-America Magnet Could Make Cheaper, Greener EV MotorsWeb site Niron Magnetics

WEB site Niron Magnetics