news aktuell GmbH

VACUUMSCHMELZE (VAC) Announces Binding Supply Agreement with General Motors (GM) to Support EV Growth

Dela
HANAU – 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.
Long-term Agreement Signed - VAC announces next steps with General Motors
Long-term Agreement Signed - VAC announces next steps with General Motors

With 100 years of experience, VAC is a leading global developer and producer of advanced magnetic solutions. VAC is the largest producer of rare-earth NdFeB permanent magnets in the Western Hemisphere.

“The demand for rare earth permanent magnets and supporting technologies is intensifying at an unprecedented rate as the world shifts to sustainable clean energy. VAC is extremely excited to be partnering with General Motors to take this important step to ensure the realization of GM’s all-electric future”, said Dr. Alexander Barcza, VAC Vice President Permanent Magnets.

VAC is in the process of establishing a North American permanent magnet production facility to support GM for a minimum of 10 years. The finished magnets will be delivered to facilities building EV motors for GM within North America. The VAC facility is expected to start production in 2025 and create hundreds of new jobs.

“Our agreement with VAC for permanent magnet production in North America represents another major milestone in building a strong, secure, sustainable and cost-competitive supply chain to support our EV growth”, said Jeff Morrison, GM Vice President, Global Purchasing and Supply Chain.

CONTACT:

Hendrik Borgmeier

Head of Global Marketing

VACUUMSCHMELZE

+49 6181 38 2082

Hendrik.borgmeier@vacuumschmleze.com

Bilder

Long-term Agreement Signed - VAC announces next steps with General Motors
Long-term Agreement Signed - VAC announces next steps with General Motors
Ladda ned bild

Om

news aktuell GmbH
news aktuell GmbH
Mittelweg 144
20148 Hamburg

+49 (0)40 4113-32589http://www.newsaktuell.de

As wholly owned subsidiary of dpa, news aktuell provides business and organizations with effective access to media and consumers. Via the smart tools ots and zimpel, PR content accesses all media formats, including classical print, high click-rate online portals and social networks. In addition, news aktuell publishes all its customers’ PR content on www.presseportal.de, one of the PR portals with the greatest reach in Germany. By this means, all the relevant multipliers are reached globally, from editors, via digital influencers right up to specialist bloggers and interested consumers. news aktuell has been on the market since 1989. The company, with a staff complement of more than 135, has its headquarters in Hamburg. Other offices are in Berlin, Dusseldorf, Frankfurt und Munich.

Följ news aktuell GmbH

Abonnera på våra pressmeddelanden. Endast mejladress behövs och den används bara här. Du kan avanmäla dig när som helst.

Senaste pressmeddelandena från news aktuell GmbH

How to halt democracy erosion19.3.2024 08:00:00 CET | Press release

The quality of democracy in developing and transformation countries has been in steady decline over the past 20 years. The latest findings of the Transformation Index of the Bertelsmann Stiftung, now in its tenth edition, show that out of 137 countries surveyed, only 63 remain democracies, while a majority are classified as autocracies. However, there is reason for hope. The examples of the transformation countries Brazil and Poland, where voters have rebuffed authoritarian trends, show the potential for reversing democratic erosion.

AvS Advisors: B Corp Certification Reinforces Commitment to Sustainability18.3.2024 10:15:00 CET | Pressmeddelande

Geneva/Frankfurt – 18 March 2024 AvS Advisors, a global boutique firm advising family businesses and privately held organizations on governance and leadership challenges, is proud to announce that it now is a Certified B Corporation. Being part of a global movement for an inclusive, equitable and regenerative economy testifies to the company's unwavering commitment to sustainability, integrity, and responsible ownership and leadership practices. AvS Advisors looks forward to collaborating with the 130+ Swiss B Corps and 8,300+ B Corps globally to bring about systems change and stronger sustainability performance in the private sector. Since its founding in 2011 the consultancy built a solid track record of high-quality practices, serving clients with an international team of seasoned advisors representing a wide variety of nationalities and languages. Operating as a global “One Firm”, AvS Advisors draws on the vast experience of its consultants in guiding and supporting family business

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum
HiddenA line styled icon from Orion Icon Library.Eye