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VAC and GM sign long-term supply agreement for permanent magnets · Endata

◂ Announcements

Jan 30, 2023CONTRACTNorth America, United States

VAC and GM sign long-term supply agreement for permanent magnets

VAC announced a binding long-term supply agreement with General Motors to build a North American facility to manufacture permanent magnets for GM's electric vehicles. The facility is expected to start production in 2025 and create hundreds of jobs.

Status

Announced

Productspermanent magnets for electric vehicle motors

CompaniesGeneral Motors customer VAC supplier

Sectors#Automotive Components

“Our agreement with VAC for permanent magnet production in North America represents another major milestone in building a strong, secure, sustainable and cost-competitive supply chain to support our EV growth.”movemnt.net

1 source
movemnt.netVAC partners with General Motors for North American permanent magnet production - Autos - MOVEMNTNicole LumleyJan 30, 2023

Summarized from public sources; check the original articles before acting on it.

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