LS Eco Advanced Materials and Vacuumschmelze to form rare earth magnet JV

LS Eco Advanced Materials, a subsidiary of LS Cable & System, signed an MOU with Vacuumschmelze to establish a joint venture to produce neodymium permanent magnets for electric vehicles. The JV aims to supply 1,000 tons annually starting in 2027, enough for about 500,000 EVs.

“The two companies plan to establish a joint venture within the year and supply 1,000 tons of neodymium permanent magnets annually to automobile manufacturers starting in 2027.”lscns.co.kr

• 1 source
• lscns.co.krLS Cable & System to establish rare earth magnet JV for electric vehicles < News < PR Center - LS Cable & SystemFeb 14, 2024

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