Neo Performance Materials secures $50M magnet supply deal with European EV clients

Neo Performance Materials has won a supply contract for rare earth permanent magnets with a new European Tier 1 supplier of EV traction motors and a leading automotive OEM, projected to generate approximately $50 million in cumulative revenue. The magnets will be manufactured at Neo's facility in Narva, Estonia.

“This recognition from a new customer is a testament to what our team has accomplished.”emobilityplus.com

• 1 source
• emobilityplus.comNeo Performance Materials Secures $50M Magnet Supply Deal with New European EV Clients - EMobility+Rajni GJul 11, 2025

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