German company Mahle said its design does not need magnets, instead using powered coils in its rotor. Unlike previous efforts, it transfers power to the spinning rotor using contactless induction -- so there are no wear surfaces.

This should make it highly durable -- not that electric motors need a lot of maintenance.

The lack of expensive metals should make it cheaper to manufacture than typical permanent-magnet motors.

Mahle said the ability to tune and change the parameters of the rotor's magnetism instead of being stuck with what a permanent magnet offers has allowed its engineers to achieve efficiencies above 95 per cent  right through the range of operating speeds -- "a level that has only been achieved by Formula E racing cars".

It's efficient at high speeds, so it could help squeeze a few extra miles out of a battery in everyday use. The company says it'll scale nicely from sizes relevant to compact cars up to commercial vehicles.

Mahle, VP of Corporate Research and Advanced Engineering Martin Berger said the magnet-free motor can be described as a breakthrough because it provides several advantages that have not yet been combined in a product of this type.

"As a result, we can offer our customers a product with outstanding efficiency at a comparatively low cost."

According to IEEE Spectrum, mass production is about two and a half years away, and Mahle has not yet nominated which carmakers will use it.