HANAU, GERMANY – Newsaktuell –30 January 2023 – VAC announced a binding long-term supply agreement with GM for North America permanent magnet production – another major step forward to create a strong, sustainable and scalable supply chain for electric vehicles. As part of the agreement, VAC will build a facility in North America to manufacture permanent magnets for electric motors used in a broad portfolio of EVs. The new facility will use locally sourced raw materials. The binding agreement finalizes a Memorandum of Understanding VAC and GM announced in December 2021.
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