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GM News Feed:General Motors and Vacuumschmelze (VAC) Announce Plans to Build a New Magnet Factory in the U.S. to Support EV Growth


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General Motors (NYSE: GM) is taking another major step forward in creating a strong, sustainable and scalable supply chain for electric vehicles. Today, GM and VAC of Germany announced plans for VAC to build a plant in the U.S. that will manufacture permanent magnets for the electric motors used in the GMC HUMMER EV, Cadillac LYRIQ, Chevrolet Silverado EV and more than a dozen other models using GM’s Ultium Platform. The new plant would plan to use locally sourced raw materials.

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Bruce

2023 Cadillac CT4-V Blackwing

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