A bi-stable brake actuator is provided and includes a fixed core movable in a first direction, a coil disposed in the fixed core and configured to generate magnetic fields of opposite polarities when supplied with opposing currents, respectively, a movable core disposed to move between retracted and extended positions with respect to the fixed core and the coil in exclusively a second direction defined orthogonally with respect to the first direction and a permanent magnet assembly. The permanent magnet assembly is disposed to move between first and second positions in accordance with the coil being supplied with the opposing currents, respectively.