10.12.2021 – 09:15
VACUUMSCHMELZE GmbH & Co. KG
VAC and GM announce plans to build a VAC manufacturing facility in the United States. Permanent magnets for the electric motors of GM’s electric vehicles based on the Ultium platform are to be manufactured here. The plant will use raw materials from local production.
“We are building a reliable and sustainable value chain, from raw materials to components, for electric vehicles in North America to drive GM’s growth and create a mass market for electric vehicles,” said Shilpan Amin, GM Vice President, Global Purchasing and Supply Chain. “Our collaboration with VAC is another big step forward that will help us achieve our goal of not only leading the EV industry in North America in terms of sales.”
“We are delighted to be moving into an increasingly electrified world together with GM, using sustainable, clean energy solutions. With its own permanent magnet division, VAC is the only industrial manufacturer of rare earth permanent magnets in the western hemisphere and brings decades of experience to GM’s supply chain. Our in-depth knowledge of magnetic materials and extensive e-mobility expertise, working with GM, will enable a cleaner future for our global society, “said Dr. Erik Eschen, CEO of VAC.
The VAC production plant is scheduled to start production in 2024 and create hundreds of new jobs. The location will be announced at a later date. The finished magnets are shipped to facilities that manufacture electric motors based on GM’s Ultium platform.
A non-binding memorandum of understanding (MoU) has already been concluded. VAC and GM expect final agreements to be reached in early 2022.
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Original content by: VACUUMSCHMELZE GmbH & Co. KG, transmitted by news aktuell