Overview

• Under the agreement, Noveon Magnetics began delivering sintered NdFeB EcoFlux magnets to GM’s full-size SUVs and trucks in July.
• Noveon is the only U.S. manufacturer operating a fully domestic, vertically integrated sintered NdFeB rare earth magnet production facility.
• The partnership complements GM’s earlier contracts with MP Materials Corp and E-Vac Magnetics to secure a majority of its rare earth magnets domestically.
• EcoFlux magnets offer high performance with greater resource efficiency and incorporation of recycled materials.
• GM and Noveon aim to bolster American jobs and economic security as China imposes export controls on rare earth materials.