An internal combustion engine comprising: an engine block assembly ; an engine component disposed in the engine block assembly and movable in respect of a central longitudinal axis of the engine component and relative to the engine block assembly , wherein the engine block assembly further comprises a cylinder bank including a plurality of cylinder bores formed therein and a cylinder head mounted to the cylinder bank covering the cylinder bores , and wherein the engine component is a piston reciprocatingly disposed in the cylinder bores and a crankshaft rotatably mounted to the engine block assembly ; at least one electromagnet is disposed in the engine block assembly , the at least one electromagnet coupled to at least one of the cylinder bank and the cylinder head adjacent the cylinder bores , characterized in that the engine component includes one permanent magnet embedded in the piston and at least one permanent magnet embedded in the crankshaft; and in a control system adapted to provide an electrical current to the at least one electromagnet to produce a desired magnetic field, wherein the magnetic field of the electromagnet cooperates with a magnetic field of the permanent magnet to affect a motion of the engine component in respect of its central longitudinal axis and relative to the engine block assembly ; further characterized in a magnetized connecting rod having opposing ends, a first end rotatably attached to the crankshaft and a second end coupled to the piston , wherein a magnetic polarity of the magnetized connecting rod causes a magnetic attraction between the first end and the crankshaft and a magnetic attraction between the second end and the piston . an engine block assembly ; an engine component disposed in the engine block assembly and movable in respect of a central longitudinal axis of the engine component and relative to the engine block assembly , wherein the engine block assembly further comprises a cylinder bank including a plurality of cylinder bores formed therein and a cylinder head mounted to the cylinder bank covering the cylinder bores , and wherein the engine component is a piston reciprocatingly disposed in the cylinder bores and a crankshaft rotatably mounted to the engine block assembly ; at least one electromagnet is disposed in the engine block assembly , the at least one electromagnet coupled to at least one of the cylinder bank and the cylinder head adjacent the cylinder bores , characterized in that the engine component includes one permanent magnet embedded in the piston and at least one permanent magnet embedded in the crankshaft; and in a control system adapted to provide an electrical current to the at least one electromagnet to produce a desired magnetic field, wherein the magnetic field of the electromagnet cooperates with a magnetic field of the permanent magnet to affect a motion of the engine component in respect of its central longitudinal axis and relative to the engine block assembly ; further characterized in a magnetized connecting rod having opposing ends, a first end rotatably attached to the crankshaft and a second end coupled to the piston , wherein a magnetic polarity of the magnetized connecting rod causes a magnetic attraction between the first end and the crankshaft and a magnetic attraction between the second end and the piston . <EOS>