The 2025 Equinox EV. (Image: GM)
Noveon Magnetics has entered a multi-year supply agreement with General Motors (GM) to deliver domestically manufactured rare earth magnets for use across a range of GM vehicle platforms, including components essential to electric and hybrid propulsion systems.
Production began in July 2025, with deliveries already underway.
The agreement supports GM’s efforts to localize critical material sourcing and reduce reliance on imported rare earth magnets, a key component in high-efficiency electric motors and other vehicle systems.
NdFeB (neodymium-iron-boron) magnets are widely used in EV traction motors, e-axles, and powertrain subsystems, enabling high torque density and efficiency.
Noveon is currently the only operational US manufacturer of sintered NdFeB magnets, providing a vertically integrated supply chain from raw materials through finished components. The company’s EcoFlux technology incorporates recycled materials and is engineered to meet the performance and durability requirements of automotive applications.
As demand for electric and hybrid vehicles increases, domestic production of rare earth magnets is expected to play a critical role in supporting US automakers’ electrification plans, improving supply chain resilience, and advancing national economic and energy security.
Filed Under: Batteries, Technology News