4 stories tagged rare-earth-magnets on EV Digest.
Neo Performance Materials has commenced commercial production of rare earth sintered magnets in Estonia, marking a significant step for the European EV supply chain. These critical components, vital for electric vehicle traction motors, are now being delivered to a Tier 1 automotive supplier, with more programs from leading motor manufacturers already secured.
A new facility in Fort Worth, Texas, is poised to begin manufacturing rare-earth magnets essential for electric vehicle motors, a critical step in reshoring a vital component of the EV supply chain. Operated by MP Materials, this plant is set to challenge China's near-monopoly on these materials, which are crucial for high-performance EVs and defense applications.
Automotive supplier Schaeffler has developed an innovative recycling process that extracts rare earth magnets from defective electric vehicle motor rotors, enabling their reuse in new motors. This initiative, developed by teams in Hungary and Germany, aims to boost sustainability and reduce reliance on new raw materials in EV production.
Critical materials producer Energy Fuels is set to acquire Vacuumschmelze (VAC), a leading rare earth magnet maker, in a $1.9 billion deal. This strategic acquisition aims to establish a fully integrated "mine-to-magnet" supply chain across North America, from raw material extraction to finished product. The move is poised to bolster domestic production of essential components for electric vehicle motors and other advanced technologies.
