VACUUMSCHMELZE (VAC) and General Motors (GM) Announce Plans to Build a New Magnet Factory in the U.S. to Support EV Growth

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Hanau – VAC and GM introduced plans for VAC to construct a plant within the U.S. that can manufacture everlasting magnets for the electrical motors utilized in GM’s electrical autos utilizing Ultium-Platform. The brand new plant would plan to make use of regionally sourced uncooked supplies.
“We’re constructing a resilient and sustainable EV manufacturing worth chain in North America from uncooked supplies to elements to drive GM’s progress and assist a mass marketplace for EVs,” stated Shilpan Amin, GM vice chairman, World Buying and Provide Chain. “Our work with VAC is one other daring step ahead that can assist make sure that we meet our objective to steer the EV business in North America in additional than simply gross sales.”
“We’re thrilled to hitch forces with GM on this journey into an more and more electrified world, leveraging sustainable clear power options. As VAC is the one industrial scale producer of uncommon earth everlasting magnets within the Western Hemisphere, VAC brings dependable scale and expertise to GM’s provide chain. VAC’s deep magnetic supplies data and intensive e-mobility expertise experience, in partnership with GM, will allow a cleaner world future for our communities,” stated Dr. Erik Eschen, CEO of VAC.
The plant is anticipated to begin manufacturing in 2024 and create lots of of latest jobs. The situation of the ability will probably be introduced at a later date. The completed magnets will probably be delivered to amenities constructing EV motors for GM’s Ultium-powered EVs.
A non-binding Memorandum of Understanding (MoU) has been accomplished. VAC and GM anticipate to finalize definitive agreements in early 2022.
CONTACT:
Hendrik Borgmeier
Head of World Advertising and marketing and Communications
VACUUMSCHMELZE (VAC)
+49 6181 38 2082
Hendrik.borgmeier@vacuumschmleze.com



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