Announcement from General Motors and VACUUMSCHMELZE

HANAU – General Motors (GM) is taking another major step forward in creating a strong, sustainable and scalable supply chain for electric vehicles. Today, VAC and GM announced plans for VAC to build a plant in the U.S. that will manufacture permanent magnets for the electric motors used in the GMC HUMMER EV, Cadillac LYRIQ, Chevrolet Silverado EV and more than a dozen other models using GM’s Ultium Platform. The new plant would plan to use locally sourced raw materials.

VAC is a leading global producer of advanced magnetic materials and the largest producer of permanent magnets in the Western Hemisphere with nearly 100 years of experience.

“We are building a resilient and sustainable EV manufacturing value chain in North America from raw materials to components to drive GM’s growth and support a mass market for EVs,” said Shilpan Amin, GM vice president, Global Purchasing and Supply Chain.  "Our work with VAC is another bold step forward that will help ensure that we meet our goal to lead the EV industry in North America in more than just sales.”

“We are thrilled to join forces with GM on this journey into an increasingly electrified world, leveraging sustainable clean energy solutions. As VAC’s Permanent Magnet Division is the only industrial scale producer of rare earth permanent magnets in the Western Hemisphere, VAC brings reliable scale and experience to GM’s supply chain. VAC’s deep magnetic materials knowledge and extensive e-mobility technology expertise, in partnership with GM, will enable a cleaner global future for our communities,” said Dr. Erik Eschen, CEO of VAC.

The plant is expected to start production in 2024 and create hundreds of new jobs. The location of the facility will be announced at a later date. The finished magnets will be delivered to facilities building EV motors for GM’s Ultium-powered EVs.

Magnets are at the heart of an EV motor. Within the motors, an electric coil generates a magnetic field to push against strong magnets, creating the torque that propels a vehicle’s wheels. A GMC HUMMER EV powered by GM’s Ultium platform may have as many as three motors with up to 15,590 in newton-meters (11,500 lb.-feet) of torque – all of which is available to the driver on demand. This allows the GMC HUMMER EV to accelerate from 0-60 mph in just three seconds.

A non-binding Memorandum of Understanding (MoU) has been completed. VAC and GM expect to finalize definitive agreements in early 2022.

VACUUMSCHMELZE (VAC) is a leading global producer of advanced magnetic materials as well as rare earth permanent magnets and inductive components. With extensive application know how and 98 years of experience in material science and product development, VAC designs and manufactures mission critical solutions for a wide variety of industries, including renewable energy, e-mobility, automotive, industrial automation, medical, aerospace and defense. VAC’s unique ability to develop and manufacture from base elements through final products enables us to provide customers optimal form factors and performance, generating best in class efficient solutions in an environmentally conscious manner.  More information at www.vacuumschmelze.com

General Motors (GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at www.gm.com

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