By Shane Lasley
Metal Tech News
GM secures American rare earth magnets
Signs deal to buy critical EV motor parts from MP Materials Metal Tech News - December 9, 2021
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Last updated 7/12/2022 at 1:21pm
MP Materials Corp.
MP Materials' Texas facility, slated to begin ramping up production in 2023, will supply the rare earth magnets for the electric motors in more than a dozen GM EV models.
To secure a long-term domestic supply of the rare earths needed to build electric vehicles in North America, General Motors has entered into a binding agreement to buy REE materials and magnets to be produced at a new facility MP Materials Corp. is building in Fort Worth, Texas.
"We are building a resilient and sustainable EV manufacturing value chain in North America, from raw materials to cel...
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