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GM has formed a supply partnership for rare earth materials, alloy and finished magnets for electric motors from MP Materials, owner and operator of the Mountain Pass Rare Earth Mine and Processing Facility, which is claimed to be "the only rare earth mining and processing site of scale in North America."
Press release content from Business Wire. The AP news staff was not involved in its creation.
General Motors and MP Materials today announced the formation of a strategic collaboration to develop a fully integrated U.S. supply chain for rare earth magnets. Under the long-term agreement, MP Materials will supply U.S.-sourced and manufactured rare earth materials, alloy and finished magnets for the electric motors used in the GMC HUMMER EV, Cadillac LYRIQ, Chevrolet Silverado EV and more than a dozen models using GM’s Ultium Platform, with a gradual production ramp that begins in 2023.
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