Neo Performance Materials Extends Partnership with Bosch for High-Performance Magnets

Neo Performance Materials has extended its strategic partnership with Bosch for high-performance magnets. The partnership includes a multi-year Memorandum of Understanding and a commitment from Bosch to reserve significant annual magnet production capacity with Neo. This move ensures a stable supply chain and fosters localized production. The partnership further solidifies Neo's role as a strategic supplier of magnets for automotive applications and beyond.

Neo Performance Materials Inc. has announced the extension of its strategic partnership with Robert Bosch GmbH, including a multi-year Memorandum of Understanding (MoU) and a commitment from Bosch to reserve significant annual magnet production capacity with Neo. This move is part of Neo's new capacity launch planning and aims to ensure a stable supply chain network while fostering localized production through competition and innovation Neo Performance Materials Inc. Extends Strategic Partnership for High-Performance Magnets with Bosch^[1].

The partnership involves Neo reserving capacity for Bosch, with a clear mutual target to transition the capacity reserve into definitive projects. This proactive step by Bosch underscores its commitment to securing a stable supply chain and promoting localized production. For Neo, this partnership accelerates its roadmap for planning and optimizing the design and construction of its next magnet manufacturing facility in Estonia, further solidifying its role as a strategic supplier of choice for magnets in automotive applications and beyond Neo Performance Materials expands magnet supply deal with Bosch^[2].

This extended partnership is significant for both companies. Bosch, a global technology leader, benefits from a stable and reliable supply of high-performance magnets, while Neo gains a strategic advantage in the competitive magnet market. The partnership also aligns with Neo's broader goal of expanding its manufacturing footprint and enhancing its position as a leading supplier of advanced materials.