# GM signs supplier agreements with MP Materials and Vacuumschmelze for rare earth magnets

General Motors announced supplier agreements with MP Materials and Germany's Vacuumschmelze (VAC) for rare earth permanent magnets. VAC plans to add U.S. capacity and begin production for GM by 2024.

- Type: Contract
- Announced: 2021-12-10
- Where: United States
- Status: announced
- Products: rare earth permanent magnets
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [General Motors](https://endata.com/companies/4654.md) (customer)
- [MP Materials](https://endata.com/companies/37829.md) (supplier)
- [Vacuumschmelze](https://endata.com/companies/59594.md) (supplier)

## Sources

- [investornews.com](https://investornews.com/critical-minerals-rare-earths/general-motors-engages-with-mp-and-germanys-vakuumschmelze-for-rare-earth-permanent-magnets/?print=print), 2021-12-10: "General Motors (NYSE: GM), has announced supplier agreements with both U.S. Based, MP Materials Corp. (NYSE: MP), and with Germany's Vacuumschmelze (VAC)."

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