DRIVING AMERICAN INDUSTRY: GENERAL MOTORS & NOVEON MAGNETICS SIGN MULTI-YEAR AGREEMENT TO DELIVER AMERICAN-MADE RARE EARTH MAGNETS

Rhea-AI Summary

General Motors (NYSE: GM) has entered into a multi-year supply agreement with Noveon Magnetics for American-made rare earth magnets to support GM's vehicle components. The partnership, which began deliveries in July 2025, focuses on supporting GM's full-size SUVs and trucks.

Noveon Magnetics, the only operational U.S. manufacturer of sintered NdFeB rare earth magnets, will provide its proprietary EcoFlux™ magnets through a fully domestic, vertically integrated solution. The magnets offer greater resource efficiency and utilize recycled materials while delivering high performance.

This strategic partnership aims to strengthen domestic supply chains and support American manufacturing capabilities in the critical rare earth magnets sector.

Positive

• Strengthens domestic supply chain security for critical rare earth magnets
• Supports GM's popular vehicle lines with locally sourced components
• Utilizes eco-friendly technology with recycled materials
• Reduces dependency on foreign rare earth magnet suppliers

Negative

• None.

News Market Reaction – GM

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-0.21% News Effect

On the day this news was published, GM declined 0.21%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Noveon Magnetics Delivering Sintered NdFeB Magnets to Support Iconic GM Internal Combustion Engine Vehicle Lines and Fortify Domestic Supply Chains

SAN MARCOS, Texas, Aug. 6, 2025 /PRNewswire/ -- Noveon Magnetics today announced a multi-year supply agreement with General Motors (NYSE: GM) to deliver rare earth magnets to support a wide range of GM vehicle components. Noveon started production immediately and magnet deliveries began in July 2025. The deal marks another major milestone to building a resilient domestic supply chain to support the future of American automotive manufacturing.

"We're proud to be delivering critical rare earth magnets in support of some of America's most iconic vehicles," said Scott Dunn, CEO of Noveon Magnetics. "This agreement is a testament to what American manufacturers like GM and Noveon can do to develop supply chains and partnerships right here in the U.S."

Under the agreement, Noveon is delivering rare earth magnets to support GM's full-size SUVs and trucks.

"Working with domestic manufacturers like Noveon allows us to increase the resiliency of our supply chain while supporting American jobs and strengthening our industry and economic security," said Jeff Morrison, General Motors global chief procurement officer. "Noveon's magnets will support our most popular vehicles and help continue to deliver a leading portfolio of choice for our customers."

Noveon is the only operational manufacturer of sintered NdFeB rare earth magnets in the United States, offering a fully domestic, vertically integrated solution for critical magnet supply. Its proprietary EcoFlux™ magnets enable greater resource efficiency, the beneficial use of recycled materials, and delivery of a superior high-performance product.

As demand accelerates across the automotive, defense, energy, and industrial sectors, Noveon continues to scale its capacity to build resilient supply chains.

About Noveon Magnetics
Noveon Magnetics is a high-performance rare earth magnet manufacturer in the United States. Noveon's product and process capability, EcoFlux™, supports a total magnet manufacturing capability which allows for (i) greater resource efficiency, (ii) beneficial use of recycled materials to directly support magnet manufacturing, and (iii) delivery of a superior high-performance finished product that meets the full range of commercial demand requirements. Noveon's magnets offer a secure supply chain solution and support a wide range of critical applications – electric vehicles, wind turbines, robots, motors, pumps, and an array of military systems – that are key to energy efficiency, electrification, and national security. More information is available at https://noveon.co/.

About General Motors
General Motors (NYSE:GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future. Learn more at GM.com.

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SOURCE Noveon Magnetics

FAQ

What is the new partnership between GM and Noveon Magnetics in 2025?

GM and Noveon Magnetics signed a multi-year agreement for Noveon to supply American-made rare earth magnets for GM's full-size SUVs and trucks, with deliveries beginning in July 2025.

Why is GM's partnership with Noveon Magnetics significant?

The partnership is significant because it strengthens domestic supply chains, supports American manufacturing, and provides GM with the only U.S.-made sintered NdFeB rare earth magnets through Noveon's EcoFlux™ technology.

What types of GM vehicles will use Noveon's rare earth magnets?

Noveon's rare earth magnets will be used in GM's full-size SUVs and trucks, supporting some of America's most iconic vehicle lines.

What are the advantages of Noveon's EcoFlux magnets for GM?

Noveon's EcoFlux™ magnets offer greater resource efficiency, utilize recycled materials, and deliver high performance while providing a secure domestic supply chain solution.

Where are Noveon's rare earth magnets manufactured?

Noveon manufactures its rare earth magnets in the United States and is currently the only operational manufacturer of sintered NdFeB rare earth magnets in the country.