# e-VAC Magnetics to build $506M rare-earth magnet plant in Sumter, South Carolina

e-VAC Magnetics, a subsidiary of German Vacuumschmelze, will invest $506 million to build a new facility in Sumter, South Carolina, creating 300 jobs. The plant will produce rare-earth magnets for electric vehicle engines and defense applications, with production starting in 2025.

- Type: New facility
- Announced: 2023-12-13
- Where: Sumter, South Carolina, United States
- Value: $506.0M
- Jobs: 300
- Starts operating: 2025
- Status: announced
- Products: rare-earth magnets for electric vehicle engines and defense applications
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [e-VAC Magnetics](https://endata.com/companies/74398.md)
- [Vacuumschmelze](https://endata.com/companies/59594.md) (partner)

## Sources

- [scdailygazette.com](https://scdailygazette.com/2023/12/13/german-manufacturer-to-invest-506m-hire-300-workers-in-sumter/), 2023-12-13: "The announcement marks the largest economic development deal in county history."

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