Automaker BMW is racing to align its production sites around the world to accommodate new electric drive designs as it transforms to an electric vehicle powerhouse. The movement is all-encompassing – involving new vehicle and permanent-magnet powertrain designs instead of internal combustion power, leading to massive investments in new plant and equipment. […]
Few companies in the industrial sector have embraced the concept of electrification on a worldwide scale as prodigiously as electrical equipment maker Ingeteam of northern Spain. Addressing multiple technologies to support propulsion, wind and solar energy, and hydrogen power, its products are increasingly spanning the globe. […]
Global chemicals giant Solvay and French rare earths consultancy Carester are planning to form a strategic partnership aimed at leveraging the expertise of both companies to pursue manufacturing opportunities within the rare earth industry for the permanent magnets value chain in Europe. The collaboration, announced in March as a signing of a memorandum of understanding, will enable both companies to enhance their respective strengths in the rare earths industry, with Solvay contributing its industrial assets and operational experience, and Carester bringing expertise in recycling end-of-life equipment, upstream market knowledge and related activities. […]
MP Materials has received a $58.5 million federal tax credit to support the construction of its rare earth magnet manufacturing plant in Fort Worth, Texas. The Section 48C Advanced Energy Project tax credit allocation was issued by the IRS and Treasury following a competitive, oversubscribed process administered by the Department of Energy that evaluated the technical and commercial viability and environmental and community impact of approximately 250 projects. A similar award for a $111 million tax credit went to an American subsidiary of Vacuumschmelze recently for its new magnet plant in South Carolina, as reported earlier in Magnetics Magazine. […]
Wurth Electronics Midcom held a ground-breaking ceremony April 24 for construction of a new 70,000 sq ft headquarters facility at its site in Watertown, South Dakota. A business unit of the Wurth Elektronik group of companies based in Germany, it manufactures a broad range of electromechanical and electronic components, many of them magnetic devices. […]
ArcelorMittal Calvert, wholly owned by ArcelorMittal, is planning for an advanced manufacturing facility in Calvert, Alabama that could deliver 150,000 metric tons of domestic production capacity of non-grain-oriented electrical steel (NOES) annually, Because of its […]
e-VAC Magnetics, part of Vacuumschmelze, has been awarded a $111.9 million Qualifying Advanced Energy Project Tax Credit to advance the construction of its first USA magnet manufacturing facility in Sumter, South Carolina. The facility was […]
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