General Motors is taking another major step forward in creating a strong, sustainable and scalable supply chain for electric vehicles.
On Dec. 9, GM and VAC of Germany announced plans for VAC to build a plant in the U.S. that will manufacture permanent magnets for the electric motors used in the GMC HUMMER EV, Cadillac LYRIQ, Chevrolet Silverado EV and more than a dozen other models using GM’s Ultium Platform.
The new plant would plan to use locally sourced raw materials.
VAC is a leading global producer of advanced magnetic materials and the largest producer of permanent magnets in the Western Hemisphere with nearly 100 years of experience.
“We are building a resilient and sustainable EV manufacturing value chain in North America from raw materials to components to drive GM’s growth and support a mass market for EVs,” said Shilpan Amin, GM vice president, global purchasing and supply chain. “Our work with VAC is another bold step forward that will help ensure that we meet our goal to lead the EV industry in North America in more than just sales.”
“We are thrilled to join forces with GM on this journey into an increasingly electrified world, leveraging sustainable clean energy solutions,” said Dr. Erik Eschen, CEO of VAC. “As VAC’s Permanent Magnet Division is the only industrial scale producer of rare earth permanent magnets in the Western Hemisphere, VAC brings reliable scale and experience to GM’s supply chain. VAC’s deep magnetic materials knowledge and extensive e-mobility technology expertise, in partnership with GM, will enable a cleaner global future for our communities.”
The plant is expected to start production in 2024 and create hundreds of new jobs. The location of the facility will be…
