# Nidec and Noveon Magnetics partner to supply rare earth magnets

Nidec Motor Corp. and Noveon Magnetics have entered into a five-year partnership to supply over 1,000 metric tons of NdFeB magnets, enhancing US supply chain resilience.

- Type: Partnership
- Announced: 2025-02-04
- Where: United States
- Status: announced
- Capacity: over 1,000 metric tons of NdFeB magnets
- Products: NdFeB rare earth magnets
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Nidec Motor Corporation](https://endata.com/companies/5791.md) (partner)
- [Noveon Magnetics](https://endata.com/companies/82742.md) (partner)

## Sources

- [autotechinsight.spglobal.com](https://autotechinsight.spglobal.com/news/5280248/nidec-and-noveon-ink-deal-to-boost-us-rare-earth-magnet-supply), 2025-02-04: "The five-year agreement between Nidec and Noveon Magnetics aims to supply over 1,000 metric tons of NdFeB magnets, enhancing US supply chain resilience."

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