Noveon Magnetics to deliver rare earth magnets for GM's iconic vehicle lines.

Noveon Magnetics has announced a multi-year supply agreement with General Motors to deliver rare earth magnets for GM's iconic internal combustion engine vehicles. The deal marks a milestone in building a domestic supply chain for American automotive manufacturing. Noveon started production immediately and deliveries began in July 2025.

Noveon Magnetics, a leading manufacturer of high-performance rare earth magnets in the United States, has announced a multi-year supply agreement with General Motors (NYSE: GM) to deliver rare earth magnets for GM's iconic internal combustion engine (ICE) vehicles. The deal, which began deliveries in July 2025, marks a significant milestone in building a resilient domestic supply chain for American automotive manufacturing.

Under the agreement, Noveon Magnetics will provide its proprietary EcoFlux™ sintered NdFeB rare earth magnets to support GM's full-size SUVs and trucks. Noveon Magnetics is the only operational manufacturer of such magnets in the United States, offering a fully domestic, vertically integrated solution. This partnership aims to enhance resource efficiency, utilize recycled materials, and deliver superior high-performance products [1].

Jeff Morrison, General Motors' global chief procurement officer, underscored the strategic importance of the agreement, stating, "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. Noveon's magnets will support our most popular vehicles and help continue to deliver a leading portfolio of choice for our customers" [1].

The partnership comes at a critical time as global demand for rare earth elements accelerates across various sectors, including automotive, defense, energy, and industrial applications. The agreement with Noveon Magnetics helps GM mitigate supply chain risks associated with imported critical materials, particularly as electric vehicle (EV) production scales globally [2].

While the agreement focuses on GM's ICE vehicles, it is a strategic move that supports the company's overall manufacturing resilience. Full-size trucks and SUVs remain a profitable segment for GM, generating the cash flow necessary to fund its transition to an all-electric future. By securing domestic magnet supply for these revenue-generating product lines, GM is protecting its near-term profitability while building domestic supply chain expertise that could eventually support its EV ecosystem [2].

This move aligns with broader industry and government initiatives to reduce dependence on imported critical materials. The partnership demonstrates GM's pragmatic approach to supply chain management, balancing immediate production needs with longer-term strategic positioning in an increasingly resource-competitive automotive landscape [2].

References:
[1] https://www.prnewswire.com/news-releases/driving-american-industry-general-motors--noveon-magnetics-sign-multi-year-agreement-to-deliver-american-made-rare-earth-magnets-302522804.html
[2] https://www.stocktitan.net/news/GM/driving-american-industry-general-motors-noveon-magnetics-sign-multi-mbeylfmv1lji.html