How an Indian startup is using software to break China's rare earth monopoly

The article touches on alternatives:

> While other magnet-free alternatives exist—such as centuries-old AC induction motors or switched reluctance motors—they are often heavy, inefficient workarounds. Similarly, ferrite magnets (like the ones announced by Ola Electric) come with performance tradeoffs.

Definitely sounds interesting but this line didn't make sense:

> Vimag’s roadmap includes designing its own Application-Specific Integrated Circuit (ASIC). This, too, like the motor would be virtual magnet based.