Materials/Manufacturing

MP Materials to Build U.S. Magnet Factory, Enters Long-Term Supply Agreement with General Motors

MP Materials Corp. (NYSE: MP) announced today that it will build its initial rare earth (RE) metal, alloy and magnet manufacturing facility in Fort Worth, Texas. The company also announced that it has entered a binding, long-term agreement with General Motors (NYSE: GM) to supply U.S.-sourced and manufactured rare earth materials, alloy and finished magnets for the electric motors in more than a dozen models using GM’s Ultium Platform, with a gradual production ramp that begins in 2023. […]

Magnetics/Assemblies

Major Automakers Transform Design & Manufacturing Operations on Accelerated Path to e-Propulsion – Part 2

Major automakers are transforming their design and manufacturing operations as they quicken their path to building out lineups of electric vehicle models. The transition will have profound impact on the use of magnets and magnetic technology, focused primarily on permanent magnet motors for propulsion instead of combustion engines. […]