TechCrunch
GM locks in two deals that will bolster US rare earth magnet production
General Motors has spent the past year securing a domestic supply chain for the millions of electric vehicles it plans to produce by the end of the decade, everything from battery cell manufacturing and cathode active materials to lithium and even recycling that will turn scrap into raw materials. Now it’s locking in a domestic source of rare earth minerals, alloy and finished magnets for the electric motors it will use in its upcoming barrage of EVs including the GMC Hummer EC, Cadillac Lyriq and Chevrolet Silverado EV through a partnership with MP Materials and another separate deal with Vacuumschmelze (VAC) of Germany. The upshot: two new facilities will be built in the United States, bolstering the domestic production of rare earth magnets.
