# 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.

- Type: Contract
- Announced: 2025-07-11
- Where: Narva, Estonia, Estonia
- Value: $50.0M
- Status: announced
- Products: rare earth permanent magnets
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Neo Performance Materials Inc.](https://endata.com/companies/34625.md)
- [European Tier 1 supplier of EV traction motors](https://endata.com/companies/85946.md) (customer)
- [leading automotive OEM](https://endata.com/companies/85947.md) (customer)

## Sources

- [emobilityplus.com](https://emobilityplus.com/2025/07/11/neo-performance-materials-secures-50m-magnet-supply-deal-with-new-european-ev-clients/), 2025-07-11: "This recognition from a new customer is a testament to what our team has accomplished."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.