# VAC signs long-term supply agreement with GM for permanent magnets

VACUUMSCHMELZE (VAC) announced a binding long-term supply agreement with General Motors to produce permanent magnets for EV motors in North America. VAC will build a new facility in North America, expected to start production in 2025, creating hundreds of jobs.

- Type: Contract
- Announced: 2023-01-30
- Where: North America, United States
- Jobs: 200
- Status: announced
- Products: permanent magnets for EV motors
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

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

## Sources

- [via.tt.se](https://via.tt.se/pressmeddelande/3339161/vacuumschmelze-vac-announces-binding-supply-agreement-with-general-motors-gm-to-support-ev-growth?publisherId=3194838), 2023-01-30: "VAC announced a binding long-term supply agreement with GM for North America permanent magnet production – another major step forward to create a strong, sustainable and scalable supply chain for electric vehicles."

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