LS Eco Advanced Materials

LS Eco Advanced Materials, a subsidiary of LS Cable & System, signed an MOU with Germany's Vacuumschmelze to establish a joint venture to produce neodymium permanent magnets for electric vehicles. The JV aims to produce 1,000 tons annually starting from 2027.

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.