Neo Performance Materials secures rare earth magnet orders for EV traction motors

Neo Performance Materials has secured new contracts for rare earth magnets from a top Tier 1 supplier for EV traction motors. Commercial deliveries from its Narva, Estonia plant will begin in mid-2026, with capacity scaling from 2,000 to 5,000 tonnes per year.

“Neo rare earth magnet orders will be supplied from Narva, Estonia.”metalnomist.com

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• metalnomist.comNeo rare earth magnet orders expand European EV supply | The Metalnomist - Raw Material, Metal, Alloy, Scrap NewsThe MetalnomistSep 7, 2025

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