# 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.

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

## Companies

- [General Motors](https://endata.com/companies/4654.md) (customer)
- [VAC](https://endata.com/companies/68185.md) (supplier)

## Sources

- [movemnt.net](https://movemnt.net/vac-partners-with-general-motors-for-north-american-permanent-magnet-production/), 2023-01-30: "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."

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