# Neo Performance Materials wins sintered magnet supply award from European EV Tier 1 manufacturer

Neo's subsidiary Magnequench Sintered Magnets was awarded a contract to supply sintered rare earth magnets to a leading European Tier 1 EV traction motor manufacturer. Peak volumes represent 35% of Phase I capacity, with production revenues projected from H2 2026 through 2033.

- Type: Contract
- Announced: 2024-08-06
- Where: Estonia, Estonia
- Status: announced
- Capacity: 2,000 metric tons per year of magnet block (Phase I)
- Products: sintered rare earth magnets for EV traction motors
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Neo Performance Materials Inc.](https://endata.com/companies/34625.md)
- [Magnequench Sintered Magnets](https://endata.com/companies/79039.md)
- [Neo Performance Materials Inc.](https://endata.com/companies/34625.md) (supplier)
- [Magnequench Sintered Magnets](https://endata.com/companies/79039.md) (supplier)
- [NPM Narva OÜ](https://endata.com/companies/79309.md) (partner)
- [NPM Narva OÜ](https://endata.com/companies/79309.md) (supplier)

## Sources

- [newswire.ca](https://www.newswire.ca/fr/news-releases/neo-wins-new-award-with-leading-european-tier-1-manufacturer-of-ev-traction-motors-889074949.html), 2024-08-06: "We welcome this significant commercial validation from a Tier 1 EV motor manufacturer."
- [autotechinsight.spglobal.com](https://autotechinsight.spglobal.com/news/5277377/neo-performance-secures-major-deal-with-european-ev-supplier), 2024-08-08: "Neo Performance Materials has announced that its subsidiary, NPM Narva OÜ, known as Magnequench Sintered Magnets, has secured a contract to supply sintered rare earth magnets to a top European tier 1 electric vehicle traction motor supplier."
- [magneticsmag.com](https://magneticsmag.com/neo-magnequench-wins-contract-in-europe-with-tier-1-manufacturer-of-ev-traction-motors/), 2024-08-21: "Neo Performance Materials’ subsidiary in Estonia, NPM Narva, also known as Magnequench Sintered Magnets, is finalizing a contract award to supply sintered rare earth magnets to a leading European Tier 1 supplier of electric vehicle traction motors."
- [metal-powder.tech](https://www.metal-powder.tech/neos-new-european-sintered-rare-earth-magnet-subsidiary-wins-major-ev-supply-contract/), 2024-08-21: "We welcome this significant commercial validation from a Tier 1 EV motor manufacturer."
- [epma.com](https://www.epma.com/neos-new-european-contract/), 2024-09-07: "We welcome this significant commercial validation from a Tier 1 EV motor manufacturer."

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