Tis is good long term news. I am actually surprised they are doing this right now with magnet prices down. They must assume market will be recovering. Per usual I am always surprised by how inaccurate the press can be. or maybe the comerce secratary realy is this bad.
"Commerce Secretary Harry Lightsey highlighted e-VAC as the only manufacturer in the Western Hemisphere working in this field." I can list several others that are in early production including MP who is already sending out metals for testing by clients. and has produced magnets in their lab and now is installing equipment for large scale production. ALL of the companies listed here make perm magnets. most do NdFeB magnets a few ony so Amarian and other materials. Permanent Magnets Suppliers (thomasnet.com)
I am sure GM has a signed this deal but remember they are the majority owner of the MP plant in west Texas that will make Metals and magnets. So this is nothing new to them. The statements about GM EV plans were true in 2022. They are very misleading if you think they apply now. GM like Ford and Tesla have cut back a lot on EV plans. both vehicle volume and profits are a fraction of what the GM article says. The article talks about profits in 2025 for GM. They are still predicting single digit profit in 2025 but if you read the following article that is because they expect a major drop in battery cost and federal subsidies'. Even though I own GM I do not like profits that count on federal aid.
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