The rising popularity of electric vehicles is leading to an increase in demand for rare earth magnets. Those interested in purchasing an electric vehicle have likely heard of the dreaded supply chain issues impacting their availability. Thanks to a recent agreement, however, the road ahead may be smoothed out.  Two years after filing a memorandum of understanding, General Motors and Vacuumschmelze (VAC), a German manufacturer, will produce rare earth magnets in North America. This means drivers will find it easier to make the switch to their dream electric vehicle. 

How EVs Rely on Magnets

Magnets play a pivotal role when it comes to making electric vehicles run. If this concept is new to you, we have previously covered this topic in full. In short, a magnetic field is created from the electric current of a coil, which opposes a magnetic field from magnets. This causes the car to receive power.

Plans For The New Plant

The new factory is slated to open in 2025 and will create permanent rare earth magnets for a number of GM’s most popular vehicles. This includes Hummers, Chevrolet Silverados, and other models. VAC says it will support the plant for at least a decade and use locally sourced materials to make the magnets. The facility will also lead to new jobs and make EVs more accessible to drivers across the globe. 

Explore With Apex Magnets

Much like the open road, we here at Apex want you to explore all of your ideas and bring them to life. Read some of our other blogs for some inspiration and visit our online store to find what you need to start your project. Be sure to tag us on social media to show off the finished product!