# VACUUMSCHMELZE signs binding 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 at a new North American facility, expected to start production in 2025.

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

## Companies

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

## Sources

- [einpresswire.com](https://www.einpresswire.com/article/614141676/vacuumschmelze-vac-announces-binding-supply-agreement-with-general-motors-gm-to-support-ev-growth), 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."

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