VAC and General Motors Partnered to Build Magnet Plant in the United States

General Motors has partnered with the Vacuumschmelze (VAC), a specialised company in magnetic materials based in Germany for the purpose of building a factory in the United States of America, and the permanent magnets for the electric motors of the company are going to be built in the facility, and the company ‘General Motors’ has also entered into another partnership in the field with the materials of the company in the United States.

Firstly, the deal with the Vacuumschmelze based in Germany both sides have agreed on the cooperation in letter of intent which is not binding, although the companies VAC and General Motors have been expected the negotiations for leading it to a final agreement in the beginning of the year 2022.

The main focus of both the companies has been the construction of the production plant of VAC that is going to be starting the production in the year 2024 and also creating hundreds of jobs, and the exact location in the United States is going to be announced later in the future.

Erik Hemisphere, chief executive of VAC said that, the permanent magnetic division of the company has been the only industrial scale producer of the are permanent earth magnets in the Western Hemisphere, and the VAC has also been bringing the experience and reliable scale to the supply chain of General Motors. He also said that, they are thrilled for partnering with General Motors on the journey to an electrified world and leveraging the sustainable solutions of clean energy.