It seems it is just a sensible thing for Tesla because the rare earths aren't available at this point in time and Tesla seem to be expanding quickly.
The good part about ASM which is obvious is that they are planning to have a good range of products to produce and not just for the EV market:
Hafnium for aerospace, the nuclear power industry and the chip market
Zirconium for the nuclear power industry
Rare earths for multiple use including EV, wind power and other electronic industries.
Niobium
Titanium alloys and powders
This was a good recent presentation:
PowerPoint Presentation (asm-au.com)
Do you think ASM will end up being a successful company?, page-31
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