An electropermanent magnet is a special type of magnet that can turn on and off using electricity. It's like a toy that you can switch on and off by pressing a button. This type of magnet is made up of two materials: a permanent magnet and a ferromagnetic material (that can be magnetized).
The permanent magnet is like the yellow and red toy that can't change its color or shape, it stays the same always. The ferromagnetic material is like a special toy that can be turned into a magnet when you connect them to the yellow and red toy by using electricity.
So, when we connect electricity to the toy, it changes color and shape, becoming a magnet. When we switch off the electricity, it returns to its original non-magnetic shape and color.
In simple words, an electropermanent magnet is a toy that can be switched on and off using electricity and has two parts, one of which always stays magnetic while the other needs electricity to become a magnet.