A bi-stable relay arranged for electrically connecting first and second electrical terminals (T1, T2) in a first stable state and for electrically disconnecting said electrical terminals (T1, T2) in a second stable state, the relay comprising - first and second electrical contact members (CM1, CM2) in electrical contact with the respective first and second electrical terminals (T1, T2), and having respective electrical contact points (CP1, CP2) arranged for providing electrical contact in the first stable state, - a slider having a magnetically conducting armature, wherein the slider is arranged to move a distance between first and second stable positions, wherein the slider is arranged to engage with at least one of the first and second electrical contact members (CM1, CM2) so as to break electrical contact between the first and second electrical contact members (CM1, CM2), when the slider is in the second stable position, and wherein contact points (CP1, CP2) of the first and second electrical contact members (CM1, CM2) are arranged to be in electrical contact, when the slider is in the first stable position, - a permanent magnet arranged together with at least a first magnetically conducting element (ML1, ML2) for generating a magnetic flux serving to magnetically attract the armature of the slider, so as to keep the slider in the second stable position, - a first spring arrangement arranged to provide a force on the slider, so as to keep the slider in the first stable position irrespective of the magnetic flux generated by the permanent magnet, and - an electromagnet comprising at least one electrical coil for receiving an electric input, wherein the electromagnet is arranged to magnetically attract said armature, via the first magnetically conductive element (ML1, ML2), in response to said electric input, so as to move the slider from the first to the second stable position, and wherein the electromagnet is arranged to magnetically counteract the magnetic flux generated by the permanent magnet in response to said electric input, so as to allow the first spring arrangement to move the slider from the second to the first stable position, characterised in that the permanent magnet has a low magnetic reluctance, so as to allow the permanent magnet to form part of a magnetic path of the electromagnet together with the first magnetically conductive element (ML1, ML2). - first and second electrical contact members (CM1, CM2) in electrical contact with the respective first and second electrical terminals (T1, T2), and having respective electrical contact points (CP1, CP2) arranged for providing electrical contact in the first stable state, - a slider having a magnetically conducting armature, wherein the slider is arranged to move a distance between first and second stable positions, wherein the slider is arranged to engage with at least one of the first and second electrical contact members (CM1, CM2) so as to break electrical contact between the first and second electrical contact members (CM1, CM2), when the slider is in the second stable position, and wherein contact points (CP1, CP2) of the first and second electrical contact members (CM1, CM2) are arranged to be in electrical contact, when the slider is in the first stable position, - a permanent magnet arranged together with at least a first magnetically conducting element (ML1, ML2) for generating a magnetic flux serving to magnetically attract the armature of the slider, so as to keep the slider in the second stable position, - a first spring arrangement arranged to provide a force on the slider, so as to keep the slider in the first stable position irrespective of the magnetic flux generated by the permanent magnet, and - an electromagnet comprising at least one electrical coil for receiving an electric input, wherein the electromagnet is arranged to magnetically attract said armature, via the first magnetically conductive element (ML1, ML2), in response to said electric input, so as to move the slider from the first to the second stable position, and wherein the electromagnet is arranged to magnetically counteract the magnetic flux generated by the permanent magnet in response to said electric input, so as to allow the first spring arrangement to move the slider from the second to the first stable position,