GM, General Electric to study rare earth supply projects for EVs
Oct 6 (Reuters) – Common Motors Co and Common Electrical Cosaid on Wednesday they plan to check methods they may develop a provide chain of uncommon earths and different minerals used to make electrical autos and renewable vitality gear.
Each corporations signed a memorandum of understanding to judge how they may work collectively to enhance entry to uncommon earths and uncommon earth magnets, in addition to copper and metal.
No cash modified palms between the businesses and no choices have been made on any steps the companions may take collectively, equivalent to whether or not to construct a producing plant or mine.
The automaker stated it might work with Common Electrical on alternatives in North America, the place each corporations are headquartered, in addition to Europe.
“Whereas we would not have a definitive timeframe for implementing it, working with GM offers us one other instrument to acquire dependable, sustainable and aggressive sources of key supplies,” Common Electrical stated in an emailed assertion to Reuters.
Metallic alloys and completed magnets produced from uncommon earth supplies are important elements utilized in manufacturing electrical motors for automotive and renewable energy technology.
Reporting by Sanjana Shivdas in Bengaluru; further reporting by Ernest Scheyder in Houston; enhancing by Anil D’Silva and Marguerita Choy
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